18 Sep 2012 4:48 PM from CapEx
Suparna Chattopadhyay

Dubai based KEF to invest Rs.13.5 billion in Kerala

New investment proposals worth Rs.33 billion announced

Dubai based KEF Company Ltd has proposed to invest Rs.13.5 billion in two different projects in Kerela. The proposal includes an investment of Rs.8.5 billion to set up a boutique hotel cum resort at Chelembra in Malappuram district, Kerala. The resort will be spread over an area of 30 acres and will include a shopping complex and a convention centre.

The second project is a 500 bed hospital at Kozhikode, Kerala. The Rs.5 billion project will be implemented through a joint venture with Kerela based Peekay Group. The hospital is expected to be operational by mid 2014.

The Hyderabad based - NSL Wind Power Co. (Satara) Pvt Ltd plans to invest Rs.5 billion to set up a 75 mw wind power at Chilarwadi village in Satara district, Maharashtra. The company has approached International Finance Corporation (IFC) for a loan of Rs.1 billion for the project. The project will be set up in two phases and will involve erection and maintainence of 50 wind turbines with a capacity to generate 1.5 mw of power each.

The Muscat based Manappat Group has proposed to invest Rs.2.5 billion to build an information technology (IT) park at Kozhikode, Kerala. The Group's Indian subsidiary Manappat Infratech Pvt Ltd will execute the project. The IT park christened as 'Manappat Knowledge Park' will be spread over 35 acres and offer a total built-up area of 800 thousand square feet in its first phase. Manappat Infratech has already acquired land for construction of the park. The company expects the project to commission by March 2014. According to the Group company's Managing Director Mr.Ameer Ahmad, the project once commissioned will generate direct employment for around 1,500 people.

Manappat Infratech also proposes to invest Rs.2 billion in a mixed use commercial development project at Perumbavoor in Ernakulam district, Kerala. The company has acquired 4.26 acres of land in Perumbavoor along the Aluva-Munnar National Highway. The project will offer retail & commercial office space, multiplex theatres, food court, convention center and a hotel.

The National Highways Authority of India (NHAI) has announced two laning of the 67.75 km Bhilwara-Ladpura (NH-758) stretch in Rajasthan. Investment in the project will be around Rs.2.4 billion. NHAI has invited bids for awarding the engineering, procurement and construction (EPC) contract for the project.

Seventeen new investment proposals worth Rs.33 billion were announced during the week ended 17 September 2012. Including the above six projects the remaining significant projects announced during the week are

  • Raipur Municipal Corporation plans to invest Rs.2 billion to construct a bridge over from Tatibandh to Mana Airport passing through Jaisthamb Chowk in Raigarh, Chhattisgarh. The project will be executed on the Public Private Partnership (PPP) mode. The Municipal Corporation is expecting a grant of Rs.1.2 billion from the central government and Rs.0.8 billion will be raised through the PPP contract.

  • A Dubai based fashion house Splash & Iconic wants to increase its presence in India. The company proposes to invest Rs.1 billion to open around 23 stores over a period of three years in various metros and tier-1 cities of India. Currently it operates 7 stores in locations like New Delhi, Pune, Hyderabad, Bangalore and Chennai.

  • The Assam government jointly with Oil India Ltd will renovate the 4.6 km stretch from Duliajan railway gate to Tipling Tinali in Dibrugarh, Assam. The project will be implemented by the PWD department of Assam. Tenders have already been invited for the Rs.243 million project. Completion of the renovation work is expected within eighteen months from the date of issue of work order.

  • Kerala State Electronics Development Corporation Ltd (KELTRON) plans to invest Rs.100 million to manufacture television set top box. The company is looking for a technology partner for the project. The plant will be set up at Karakulam or Kulathur in Thiruvananthapuram, or Aroor in Alappuzha Kerela. Keltron is aiming a production target of 25,000 units of set top boxes in a month.

  • Shriram Properties Ltd have announced a residential complex project at Sarjapur in Bangalore. The project will be spread over 16 acres. Ask Property Investment Advisors have invested Rs.1 billion in this residential project.

  • Mantri Developers Pvt Ltd is developing a luxury affordable housing project in the Lalbagh area of Bangalore. The residential complex would be spread over 2.72 acres.

  • Olam Agro India Ltd - a subsidiary of Singapore based Olam International proposes capacity expansion at its sugar manufacturing units at Kolhapur, Maharashtra and Barwani in Madhya Pradesh.

  • Sical Logistics proposes to set up a coal washery plant at Talcher in Angul district, Orissa

  • Ascendas (India) Pvt Ltd has announced a 20 acre township project in Chennai, Tamil Nadu. The project will offer residential as well as commercial spaces.

  • Pradip Overseas Ltd will develop a industrial park at Bhamsara near Ahmadabad, Gujarat. The park will be developed on an area of 270.4 acres, where earlier a textile special economic zone (SEZ) was planned by the company. Pradip Overseas had dropped the plans to set up the SEZ due to poor response from textile manufacturers and unfavourable tax conditions on SEZs.

    The company plans to start construction work by November 2012 and commission the project by December 2014. According to information provided by one of the technical Director's of the company to CMIE's CapEx analyst, the park will have 65 units from various sectors of industries like textile, automobile, engineering, plastic and capital goods. Once commissioned it will provide employment opportunities to around 11,000 people.