At a time when ‘Emerging Kerala’ investors’ meet is round the corner, most of the projects finalised during the much-hyped Global Investors Meet (GIM), 2003, still remain on paper.
The GIM had created investment proposals worth `26,000 crore. Out of which about 60 projects which could attract investments to the tune of `13,500 crore have been finalised in the initial months itself.
SmartCity Kochi, one of the major initiatives conceptualised in the GIM, has not taken off till now.
The Kerala State Industrial Development Corporation (KSIDC), which was the nodal agency for the investor meet, had even signed Memorandum of Understanding (MoU) for 48 projects.
Interestingly, land and buildings for a number of these projects have also been allotted to investors. Some of the projects finalised during the GIM include - Expansion of Kochi Refineries (`2,600 crore), the mineral processing plant in Kollam (`1,850 crore), technology park in Kochi (`65 crore), expansion of the National Thermal Power Corporation (NTPC) plant at Kayamkulam (` 6,000 crore), expansion of the Binani Zinc captive power plant in Kochi (`1,000 crore), setting up of the Kerala Growth Ventures Consultancy (`100 crore), academic complex at Kalamassery (`35 crore), an entertainment complex in Kochi (`30 crore), heritage resort at Munnar (`15 crore), resort complex at Wagamon (`50 crore), wedding centre complex at Angamali (`4,00 crore) and Infosys software development centre (`300 crore).
However many of these did not take off due to lack of follow up action.
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