UAE business delegation to invest in Kerala

Dec 14, 2007, 13:07 GMT

Thiruvananthapuram, Dec 14 (IANS) A business delegation of the United Arab Emirates (UAE) government met the Kerala government officials Friday to discuss investment options in the state.

After a two-hour meeting, state Industries Minister Elamaram Kareem told reporters that the government had put forward four investment proposals to the delegation.

'These include a petro-chemical complex proposed near the revamped Azhikal port in Kannur district. A power project, either coal or gas based, in Kasargode district, a road development project and a state of the art financial centre in Kochi,' said Kareem.

The UAE delegation is led by Younis al-Khoori secretary with the UAE ministry of finance and industry, and comprises Jamal Nasser Lootah, secretary industrial sector in ministry of finance, Saeed al-Roken acting director industrial development, and NRI businessman M.A. Yousf Ali.

'We will now wait for the feasibility report to be prepared by the Kerala government and then by February next year we will be able to sign the memorandum of understanding. These four projects have been selected by us after looking at the various projects that the government had placed before us,' said Al-Khoori.

He said a new investment company, a joint venture of the seven federal governments of the UAE, would invest in the projects.

'The proposed Smart City at Kochi signed by the Dubai Internet City (DIC) and the Kerala government has given an impetus because we too have interest in the DIC,' added al-Khoori.

© 2007 Indo-Asian News Service