UAE Evinces Interest To Invest In Kerala

Thiruvananthapuram: A high-level delegation from the United Arab Emirates has shown interest in making investments in select areas in Kerala. The team, which met the Chief Minister, Mr V.S. Achuthanandan, and the Industries Minister, Mr Elamaram Kareem, has identified a petrochemical complex and a refinery, a thermal power project, road development project and a financial centre as possible areas of investment. Mr Kareem said that the petrochemical and refinery project was proposed to be set up near the Azhikkal port in Kannur. The power project would also be located in north Kerala, which would be either coal or gas based. The road development project would feature construction of flyovers on major roads in the State, while the financial centre was proposed to be established in Kochi.

The delegation was led by the Secretary (Finance and Industry) of UAE, Mr Younis Haji Al Khoori. A memorandum of understanding on the identified projects will be signed in February next year. Mr Kareem said that the UAE Government was willing to associate with the newly formed IT infrastructure development company of the State Government.