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Kottayam District Mini Industrial Estate Co-operative Society Limited plans to establish a new industrial park in Parathode, Kottayam, Kerala. However, completion is anticipated by 2025. One acre will be allotted to each of the 100 parcels that will comprise this development. The cost of the project is 406 billion. The parcels will be for sale to small and medium-sized businesses (SMEs). The initiative is anticipated to attract approximately one hundred small and medium-sized enterprises, which will generate approximately one thousand jobs.
The enterprise is financed through a combination of debt and equity. A consortium of institutions is providing the debt funding, while the Kottayam District Mini Industrial Estate Co-operative Society Limited and its members are providing the equity funding. The initiative is anticipated to have a substantial effect on the regional economy. It is anticipated to generate employment, increase investment, and attract additional SMBs to the region.
The initiative is also anticipated to have positive environmental effects. The park will be constructed with eco-friendly features such as rainfall collection and solar panels. The Kottayam District Mini Industrial Estate Co-operative Society Limited was founded in 1972 as a non-profit organization.
The society seeks to foster the growth of small and medium-sized businesses in the Kottayam district. The new industrial park project is a significant effort by society to attain its objectives. The initiative is anticipated to play a significant role in the district of Kottayam's economic growth. Here are some of the benefits of the project: It will create jobs and boost the local economy. It will attract other SMEs to the region. It will help to reduce the unemployment rate in the district. It will help to improve the standard of living of the people in the district. It will help to promote the development of industries in the district.
As of September 2023, The project is currently in the stage of being approved currently awaiting approval from the government.
News by Rahul Yeligetti
