INKEL to invest Rs. 200-cr in Angamaly business park.

With the first 200,000 sft tower at its business park in Angamaly near here fully sold out to seven firms, INKEL is gearing up for an additional Rs. 200 crore investment to make the 30-acre business park a major eco-friendly business and industrial hub in Kerala.

The work on the next 250,000 sft Tower–II has been progressing well and INKEL has decided to construct two more towers of 250,000 sft each. The overall plan was to create a fully-integrated business park of 2.5 million sft, said the company.

INKEL is a PPP initiative bringing together government agencies and prominent global investors and NRI industrialists and businessmen. The state government currently holds 32 per cent share in INKEL.

The 30-acre land at Angamaly in Ernakulam district was handed over by the state government in 2010 on a 90-year lease to INKID, a joint venture company of INKEL and the Kerala State Industrial Development Corporation (KSIDC) at Rs. 1 crore per acre, which includes registration and stamp duty.

'We have so far invested Rs. 100 crore for developing the land, and the remaining capital would be pumped in for constructing the rest of the towers and allied infrastructure,' said INKEL managing director T Balakrishnan.

Adding the company had been witnessing good response from business for the built-up space.


BS