Thiruvananthapuram, Feb 24 (UNI) In a major policy decision aimed at accelerating industrial growth, the Kerala Government has authorised the Kerala Industrial Infrastructure Development Corporation (KINFRA) to independently raise loans of up to Rs 1,000 crore for land acquisition and infrastructure development across the state.
Industries Minister P. Rajeeve has said the government would extend its guarantee to enable KINFRA to directly mobilise funds from financial institutions. The move marks a significant shift in the state’s industrial financing strategy, granting greater financial autonomy to the agency.
Until now, KINFRA primarily relied on mechanisms such as the Kerala Infrastructure Investment Fund Board (KIIFB) for funding major projects. With the new policy in place, KINFRA will be able to independently access institutional finance, expediting land acquisition and infrastructure creation.
Priority will be accorded to acquiring land linked to industrial projects associated with the upcoming Vizhinjam International Seaport, which is expected to drive large-scale industrial and logistics investments in the region.
Highlighting the challenges to industrial expansion in Kerala, the Minister noted that while investor interest in the state remains strong, the shortage of readily available industrial land continues to be a major constraint.
He pointed out that extensive land parcels owned by Central Public Sector Undertakings, including Fertilisers and Chemicals Travancore (FACT), HMT Limited, and Hindustan Newsprint Limited, are lying unused.
Referring specifically to the Palakkad Coach Factory land at Kanjikode, the Minister said the property has remained largely idle and overgrown for years. He urged that such underutilised land parcels be handed over to the state government to facilitate productive industrial use.
The Minister also issued a stern warning to entrepreneurs who have acquired land in KINFRA industrial parks but have failed to commence projects for prolonged periods.
He made it clear that the government would be compelled to take stringent action if such delays persist, underscoring its commitment to ensuring optimal utilisation of industrial land.
