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Global investor meet ASCEND 2020 held in Kochi, Kerala 

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A two day organised Global Investors Meet – ASCEND 2020 was held in Kochi, Kerala at Lulu Bolgatty International Convention Centre, Grand Hyatt, from January 9-10. The meet was inaugurated by the Chief Minister of Kerala Shri Pinarayi Vijayan and was organised by states Department of Industries. Totally Rs 1 lakh crore worth investment proposals were received.The key highlights of the meet are as follows:Global investor meet ASCEND 2020:

i.Wage subsidy scheme: Wage subsidy scheme was unveiled during the meet . As per the scheme Wage subsidy will be provided for the first 5 years for new ventures getting registered on April 1, 2020.

  • The benefit will only be available to those units that provides ESI (Employee State Insurance) and PF (Provident Fund) benefits to workers. This would benefit 37 lakh people.

ii.Proposed mega projects: Mega projects are those that has more than Rs 100 crore investment. A total of 18 mega projects were announced by the state govt. Some of the planned mega projects in the state includes

  • Propylene Oxide plant: A Propylene Oxide (formula:C3H6O) manufacturing plant of 2,00,000 MPA (megapascal) capacity in the vicinity of BPCL (Bharat Petroleum Corporation Limited)-Kochi Refinery.
  • PVC plant: A PVC (polymerizing vinyl chloride) manufacturing facility of capacity 150,000 TPA (Tonnes Per Annum).
  • Petrochemical park: Rs. 1,864-crore KINFRA (Kerala Industrial Infrastructure Development Corporation)-initiated Petrochemical Park of international standards at Ambalamugal in Ernakulam district.
  • KINFRA also plans to set up Rs 400 crore logistic hub in Palakkad (Kerala) and also to set up cryogenic warehouse in Kochi’s Puthuvypeen.
  • Defence Park: Rs.131 crore Defence park will be set up at 60 acres Ottapalam of Palakkad district of Kerala with central government assistance under the Modified Industrial Infrastructure Upgradation scheme(MIIUS).
  • Electronic hardware park: An electronic hardware park will be set up in Ernakulam district of the state.
  • Polymer plant: Rs 900-crore Super Absorbent Polymer Plant will be set up considering the demand for diapers and female hygiene products besides the medical and agriculture industry.
  • Fibreboard plant: A medium density fiberboard plant in Perumbavoor and integrated solid waste management systems at Thiruvananthapuram, Thrissur and Malappuram will be built.
  • Malappuram 1st in EIU report: It is also to be noted that recently Malappuram city of Kerala was ranked 1st in the list of cities based on fastest growing urban regions/ fastest growing cities in the world released by the Economist Intelligence Unit (EIU).

iii.Other projects worth: Rs. 32,008 crore proposals were received at the event from 138 projects. Overall, the event received 164 investment proposals.

iv.Pact by KIFML & ADIA: Kerala infrastructure Fund Management Ltd.(KIFML) and Abu Dhabi investment Authority (ADIA) have signed 1 projected but have designated Rs 8110 crore for six projects. ADIA has also promised to invest Rs 66,900 crore for logistics park and other projects.

v.Investors & investment worth: Some of the major investors and their investment worth are Kitex group-Rs 3500 crore; MSME (Ministry of Micro, Small and Medium Enterprises) Consortium- Rs 2050 crore; Joy Alukkas-Rs 1500 crore; Ashique Chemicals and Cosmetics- Rs 1000 crore; Aerotropolis Kannur- Rs 1000 crore and Delwan group, Qatar- Rs 1000 crore.

About Kerala:
Chief Minister- Pinarayi Vijayan.
Governor- Arif Mohammad Khan.
Capital- Thiruvananthapuram.
Rivers- Cheruthoni river, Bharathapuzha river, Pamba river, Chalakudy river, Parambikulam river.
National Parks(NP)- Silent Valley NP, Pampadum Shola NP (smallest NP in Kerala), Eravikulam NP, Mathikettan Shola NP.