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Eight industrial projects to be inaugurated shortly
12 Feb '11
1 min read
Dr. T.M. Thomas Isaac, Finance Minister of Kerala revealed that eight new industrial projects worth Rs 1250 million will be shortly inaugurated and another five projects will be commissioned within a period of one year.
The Minister, while presenting the Budget for 2011-12 in the State Legislative Assembly said that these eight projects will be installed before the budget session gets over.
He further added that around six of the total nine projects worth Rs 2600 million, which were meant for expansion of the public sector enterprises, will be completed in 2011 only.
This includes the restoration of Malabar Spinning and Weaving Mill into a modern facility with 25,000 spindles and a weaving centre for Rs 150 million; upgradation of Sitaram Textiles for Rs 200 million.
The establishment of a new spinning and weaving facility for Rs 360 million and a hosiery manufacturing unit for Rs 300 million at Kerala Spinners, Alappuzha are also included under the proposed ventures.
The Minister, while presenting the Budget for 2011-12 in the State Legislative Assembly said that these eight projects will be installed before the budget session gets over.
He further added that around six of the total nine projects worth Rs 2600 million, which were meant for expansion of the public sector enterprises, will be completed in 2011 only.
This includes the restoration of Malabar Spinning and Weaving Mill into a modern facility with 25,000 spindles and a weaving centre for Rs 150 million; upgradation of Sitaram Textiles for Rs 200 million.
The establishment of a new spinning and weaving facility for Rs 360 million and a hosiery manufacturing unit for Rs 300 million at Kerala Spinners, Alappuzha are also included under the proposed ventures.
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