Gulf-based KEF to invest Rs 1,600 cr in Kerala
Story Dated: Friday, September 14, 2012 14:19 hrs IST
Kochi: Gulf-based KEF Company today said it will invest around Rs 1,600 crore in Kerala to set up new projects, including a five-star hotel.
The company that operates out of Dubai International Financial Centre will set up three factories here at a cost of Rs 250 crore-Rs 300 crore, KEF company Chairman Fazal Kottikollon told reporters here.
He said the company will also set up a 500-bed hospital costing Rs 500 crore and a five-star hotel with a Rs 850 crore investment at Kozhikode.
The projects will create 5,000-10,000 jobs, Kottikollon said.
The three factories will be integrated manufacturing facilities specialising in pre-cast concrete technology for making kitchens, toilets, doors and windows.
The precast plant is envisaged as a high tech, quality controlled facility that promises to be "game changing" initiative for Kerala's infrastructure sector by enhancing quality and expediting on time project execution. The factories are expected to be ready in eight months, he said.
This will be followed by opening of a 500-bed hospital at Kozhikode, which is being built through a joint venture with the Peekay Group, a leading business entity in Kerala, and well-known cardiologist Ali Faizal.
The hospital is expected to open by the end of next year.
The super speciality facility would focus on cardiac sciences, neuro sciences and orthopedics along with rehabilitation programme, Kottikollon said. The company aims to create a research-based centre of excellence and establish it as a novel centre of medical tourism in the region.
The hotel will be spread over 30 acres at Chelembra in Kozhikode, and will have a convention centre to accommodate over 3,500 people and a shopping complex.
Kottikollon said his firm also plan to set up similar projects at other locations, including Thiruvananthapuram and Mangalore.