INKEL to pump in Rs 200 cr additional investment

INKEL Ltd today said it is gearing up for an additional investment of Rs 200 crore in its Business Park in Angamaly to develop more commercial space in the 30-acre zone.
The company said its first 2,00,000 sqft tower at the Business Park was fully sold out to seven firms and it is working on another tower of 2,50,000 sqft. Also, it has decided to construct two more towers of 2,50,000 sqft each.
INKEL is a Public Private Partnership (PPP) initiative which brings together government agencies and prominent global investors and NRI industrialists and businessmen.
"The work on the next 2.5 lakh sqft Tower-II has been progressing well and the company has decided to construct two more towers of 2,50,000 sqft each in the due course of time for the benefit of industrialists and investors. The ultimate plan is a fully integrated Business Park of 2.5 million sqft," INKEL Ltd said in a release here.

The government in 2007 established INKEL with 26 per cent stake and the remaining shared by NRI and public investors. At present, government holds 32 per cent share in INKEL.
INKEL Managing Director T Balakrishnan said the company was witnessing tremendous response from the business community for the built up space where it has developed all basic infrastructure facilities such as road, water and power to make it a ready to occupy space.
"We have so far invested Rs 100 crore for developing the land and the remaining capital will be pumped in for constructing the rest of the towers and its allied infrastructure," he said.

"Plans are also underway to offer the development of the remaining Towers to private investors, on a joint venture mode," the release said.