Big ticket investments from PSUs

Sep 11, 2012 - Ajayan |

Kochi

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As the state flags off the Emerging Kerala meet here on Wednesday that draws 2,500 delegates from 52 countries to help chart the state’s development agenda, investments running into a few thousand crores are expected, mainly from Central PSUs. Also, non-resident Keralites and several other private players would step in with proposals.

“Some concrete project proposals have come from Central PSUs in petrochemical and mineral sectors.

These had been deliberated over a period and a final shape is expected to be given during Emerging Kerala.

The amount of investment would run into a few thousand crore. It will be a stamp of proof from the Union government for private players even from abroad that the state can be a safe investment bet,” said a senior official of the industries department.

“The heads of many PSUs are to be present during Emerging Kerala and it will be for them to announce what they expect to do for the state,” he said.

Already, Gas Authority of India Ltd has completed laying the gas supply pipeline from the LNG terminal to various industries in and around the city.

It was also looking at a Rs 7,000-crore integrated petrochemical complex here which would produce ethylene and propylene.

Besides, a major investment proposal was expected in the area of mineral mining involving a Central PSU, sources said.

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