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With the first 2 lakh sq ft tower at its business park in Angamaly fully sold out to seven firms, INKEL Ltd is gearing up for an additional investment of ₹200 crore to make the 30-acre project an eco-friendly business and industrial hub.
Work on the next 2.5 lakh sq ft Tower–II has been progressing well and the company has decided to construct two more towers of similar size in due course. The ultimate plan is a fully integrated business park of 2.5 million sq ft, says INKEL Managing Director T Balakrishnan.
According to him, the company had received a good response for the built-up space with all basic infrastructure facilities such as roads, water, and power.
“We have so far invested ₹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.
INKEL was established in 2007 with the State Government picking up 26 per cent stake and the remaining shared by NRIs and public investors. At present, the Government holds 32 per cent share in INKEL.
The 30-acre land parcel at Angamaly was handed over in 2010 on a 90-year lease to INKID, a joint venture company of INKEL and Kerala State Industrial Development Corporation (KSIDC), at a rate of ₹100 lakh per acre, which included registration and stamp duty.
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