Kerala to offer investment options to NRKs: Chandy

May 16th, 2011 - 5:10 pm ICT by IANS  

Thiruvananthapuram, May 16 (IANS) The new United Democratic Front (UDF) government in Kerala will offer productive investment opportunities in the state for non-resident Keralites (NRKs), chief minister-elect Oommen Chandy said here Monday.

The focus will mainly be on infrastructure development, the Congress leader told IANS.

Chandy will be sworn-in as Kerala’s 21st chief minister Wednesday.

“We are looking at developments projects that can provide long-term returns, like the Cochin International Airport where NRK investment played a major part,” Chandy said.

The proposed Kannur international airport would be one of the projects the NRKs can invest in, he suggested.

According to him, infrastructure development is crucial for the state’s all-round growth, which will also ensure good returns for investors.

“There are more than two million Keralites working and earning abroad, particularly in the Middle East, who are keen to invest in the state, but finding only limited opportunities,” Chandy said.

He added: “The state-owned Infrastructure Kerala Limited (Inkel), formed mainly to promote the industrial Infrastructure development in the state, is in a poor shape now. We intend to revive it and will set the ball rolling for channelising NRK investments.”

He said the IT infrastructure will be another area where the diaspora can look for possible investments.

Chandy, who was in charge of the NRK department during his previous term as chief minister in 2004, is expected to handle the portfolio again.

“The government will ensure that development projects are never delayed. We will also ensure proper rehabilitation schemes for those whose lands are acquired,” Chandy said.

“Compensation will be paid without delay and at least one member from the family who give land will be given a job in the project,” the chief minister-in-waiting added.

The Congress-led UDF won 72 seats in the 140-seat Kerala assembly, closely followed by the Left Democratic Front (LDF), which won 68.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |