Thiruvananthapuram (PTI): CPI-M led LDF government in Kerala is in the process of wooing private investments to the tune of Rs.10,000 crore and also plans a mega joint venture project with Russian based company Roseboron to set up a 10,000 tonne capacity titanium sponge unit, State Industries Minister Elamram Kareem said on Tuesday.

As part of encouraging private investments, government had already signed a MOU with Shoba Groups to set up Shoba Hightech City at Kochi with an investment of Rs.5000 crores, the Minister told a press conference held in connection with the second anniversary of LDF rule.

The single window clearance committee headed by Chief Minister V S Achuthanandan would meet soon to consider the projects of Shoba group, he said.

Discussions with the Russian company for the titanium sponge unit at Chavara in Kollam district was progressing, he said. The company has followed its project report showing an investment of Rs.960 crore, he said.

An expert technical comittee would evaluate its technical aspects and Engineering India would examine the financial aspect of the report, he said. State government would like to have the Indian government also as a partner in the project, and that would benefit the state very much, he said.