The Hindu : Front Page : KSIDC ties up with Malaysian firm

Online edition of India's National Newspaper
Tuesday, Sep 11, 2007
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KSIDC ties up with Malaysian firm

Staff Reporter

Industrial township proposed at Kinalur Estate near Balussery

KOZHIKODE: The State Government-owned Kerala State Industrial Development Corporation (KSIDC) and the Construction Industry Development Board (CIDB), a statutory body established in Malaysia, have entered into an agreement to set up a Rs.2,500-crore satellite city at Kinalur Estate, near Balussery, in the district.

A Memorandum of Understanding (MoU) was signed between CIDB chief executive officer Datuk’ Ir. Hamzah bin Hasan and KSIDC managing director P.H. Kurian in the presence of Minister for Industries Elamaram Karim and Malaysian Minister for Works Dato’ Seri S. Samy Vellu here on Monday. A 15-member delegation from Malaysia, including officials and captains of various industries, attended the event.

Addressing the gathering, Mr. Samy Vellu said the CIDB had identified the 275-acre land at Kinalur for integrated industrial township development. “The township would comprise knowledge-based industries, medical city, education city and other new generation industries that have industrial and commercial potential,” he said.

Infrastructure development is estimated to cost Rs.500 crore and is expected to attract an investment of Rs.2,500 crore in industrial and commercial activities. The project was expected to provide jobs to 25,000 people, Mr. Samy Vellu said.

The project would be prepared within six months. It will be implemented in stages spanning a period of five years, he said at a news conference after the function.

Mr. Sami Vellu suggested the construction of a dedicated road from Kozhikode to the project location in Kinalur. Another Malaysian firm had also proposed to set up condominiums as well as office complexes on a 50-acre plot near Karipur airport to cater to the needs of information technology professionals and businessmen.

Formal agreement

Speaking on the occasion, Mr. Karim said the MoU was only a formal agreement to work out modalities for the project. While the KSIDC and the CIDB would be the promoters of the project, companies from India and Malaysia could become its developers. In his welcome speech, Principal Secretary, Industries and Commerce, T. Balakrishnan said the project would change the face of Kozhikode. Mr. Kurien proposed a vote of thanks.

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