THIRUVANANTHAPURAM: Finance Minister KN Balagopal announced in the new budget that an investment of 3 lakh crore rupees will be brought in trusting the Vizhinjam port.

Adani Group, which has taken over the management of Vizhinjam port, has invested 4 lakh crore rupees in connection with the Mundra port started in Gujarat. The government estimates that an investment of 3 lakh crores will be possible very quickly in the same model. The state government is determined to provide them with all the necessary infrastructure without entangling them in red tape. It is for this purpose that the Finance Minister mentioned the China model in the budget.

This project will not go astray like the promises made by the state government in previous global investment summits. Port-based industrial investments have a high probability of success. It is the responsibility of the state government to create a favourable environment for the industry. The government will express its interest in making the upcoming industries a reality just like they did for Vizhinjam port.

20000 crore tax revenue for Gujarat

The private sector Special Economic Zone, adjacent to Mundra Port, has 48 large export-oriented manufacturing units. The investment of Rs 4 lakh crore is in several imported coal based thermal plants, imported edible oil processing units, ship repairing establishments and container manufacturing units. 35000 people got permanent employment. Annual tax revenue of more than 20000 crores for the state.

Kerala will acquire and hand over 10000 acres of land

1. 10000 acres of land within a 50 km radius of Vizhinjam port will be acquired and handed over to the private sector. A special development zone will be formed there, similar to Mundra. Development of the new ring road will also help in this. Tax concessions and infrastructure will be provided at government expense. 3000 crore will be spent for this.
2. Export-oriented industries will be brought in with the cooperation of non-resident industrialists in Kerala. Renew Investors has sought approval for a Rs 28,500-crore green hydrogen manufacturing unit in Vizhinjam. It is an entirely export-oriented industry. Concessions have been sought in land use laws and water use regulations. Permission will also have to be given for power generation. Similar industries are emerging. Such concessions will be given to them also.
3. Based on Vizhinjam, permission will be given to private entrepreneurs in oil processing sector in Kochi. In view of the arrival of more large ships in Vizhinjam, permission will be given to international ship repairing firms in the private sector in Kochi. Three lakh crores can be secured through such schemes.