Edayar Zinc Ltd, formerly Binani Zinc, which stopped its zinc smelting activities in 2014, on Thursday, announced its revival project, “Fortune Grownd,” a multi-zone industrial park and logistics hub.
The project to be developed on the company’s 108 acres in the Edayar Industrial Development Area will be the first of its kind multi-zone industrial and logistics park in Kerala.
Abdul Salim, Chairman of Edayar Zinc said the initial phase of the construction would commence in the first quarter of 2023, and the facility would be operational by 2026.
“Our vision is to develop Kerala as a world-class industrial destination. There is immense potential for SMEs in Kerala. The project will align with the Kerala Government’s industry-first initiatives and the Industry Minister’s vision of achieving one lakh MSMEs in the State. The project will also be the first facility to introduce logistics as a full-fledged industry beyond traditional warehousing and transportation activities.”
Mohamed Bismith, Managing Director, said restructuring and settling the company’s liabilities and launching a revival project has been challenging. The ₹800 crore project would be the first industrial infrastructure based on sector-based clustering with 25 lakh sq ft of constructed industrial, logistic warehouses, and socio-infrastructure facilities.
The cluster-based industrial park will have dedicated zones for focus sectors that strategically fit with the region’s sustainable development goals and provide long-term economic benefits. The clustering benefits industries in terms of economies of scale and economies of agglomeration and optimised utilisation of land and other resources, he said.