KOCHI: The KINFRA defence park in Ottappalam being reading with an investment of Rs 130.94 crore is expected to be completed and opened for investors by the end of March.
Speaking to select media on the sidelines of the Ascend Kerala 2019 summit in Kochi on Monday, KINFRA managing director Santosh Kumar said 60-70 per cent of the work has been completed and the remaining work will be completed soon.
The park, dedicated to small and medium companies focusing on defence sector, is set-up with a Rs 50 crore assistance from the Union government. “We have received Rs 35 crore from the Union government so far and the remaining Rs 15 crore will be availed soon,” he said.
The park with common facilities is expected to generate an investment to the tune of Rs 250 crore in the initial phase, he said, and added that it would be having a built up space of 2.3 lakh sq ft, apart from independent land plots.
Potential investors have already evinced interest in the venture and discussions with promoters of a sea-plane manufacturer are in an advanced stage, Mr Kumar said. The proposal envisages a joint venture by a firm from Ukraine with a start-up company based in Kannur, he said.
KINFRA is hoping that a rail line linking the park with the manufacturing unit of BEML from Kanjikode railway station would help in gathering major investments.
The rail line project with an estimated cost of Rs 120 crore, for which MoU has been signed BEML, requiring land acquisition to the tune of 25 acres. The process is expected to be completed in 12-18 months.
KINFRA, expecting good response for its aerospace park in Thiruvanathapuram, has identified vendors for ISRO and VSSC as potential investors in the park.
Precision mechanical and electronic components manufacturing for catering to the defence, space and other cutting edge areas have good scope in the state, mr Kumar said. KINFRA currently has 24 industrial parks spread over 3,500 acres and 90 per cent of the space is occupied. KINFRA is mandated for acquiring another 6,500 acres in the next five years for setting up dedicated industrial parks.
