The fresh directives were announced by Industries Minister P. Rajeeve who said these amendments aim to create a more industry-friendly environment, fostering investment and growth in Kerala’s industrial sector….reports Asian Lite News
To speed up Kerala’s industrial development and to give an impetus to investors, the Kerala government has made modifications to the Land Disposal Regulations (LDR) governing industrial land allocation by the Kerala Industrial Infrastructure Development Corporation (KINFRA) and the Kerala State Industrial Development Corporation (KSIDC).
KINFRA and KSIDC have been instrumental in developing industrial infrastructure in Kerala in the past three decades, creating industrial parks and allotting land to prospective entrepreneurs under long-term lease arrangements.
The fresh directives were announced by Industries Minister P. Rajeeve who said these amendments aim to create a more industry-friendly environment, fostering investment and growth in Kerala’s industrial sector.
He said recognising the need to modernise these policies in line with best practices, a comprehensive review and revision of the LDR has been undertaken.
“The government of Kerala is confident that these revised regulations will provide a significant boost to industrial development in the state, attracting large-scale investments and fostering a conducive business environment. This will mark a new era of industrial growth in Kerala,” said Rajeeve.
The highlights of the new policy include a change in the lease period from 30 years to 60 years across the board, while for investments of Rs 100 crore and above, land will be allotted for a period not exceeding 90 years.
Kerala receives investment proposals worth Rs 72,000 cr
Meanwhile, the Kerala government has received investment proposals totaling Rs 72,760 crore from four major companies seeking subsidies under the state’s draft green hydrogen policy to establish green hydrogen and green ammonia facilities.
According to the senior government official, the proposals are in the pipeline and packages have been worked out. The companies aim to export green ammonia to drive export-led growth.
Each of these four companies will receive approximately Rs 275 crore in capital expenditure subsidies for their projects. Additionally, the state government plans to grant a 100 percent exemption on electricity duties for 25 years.
One of the companies has submitted two distinct investment proposals amounting to Rs 22,062 crore and Rs 4,511 crore.
Official on the conditon of anonymity said, “Land identification for these projects is currently underway, with areas near tea plantations in eastern Kerala being considered.”
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