Leading business group announces Rs 870 cr investment in Kerala's Balussery

Kozhikode (Kerala), Oct 11 (PTI) Leading business group Unibound Catalyst Pvt Ltd has announced a major integrated project involving an investment of Rs 870 crores in education and tourism sectors in Balussery in this northern district of Kerala.

The company has already submitted the Detailed Project Report (DPR) to the government and the application for single-window clearance, the Kerala State Industrial Development Corporation Limited (KSIDC) said in a statement here on Saturday.

Welcoming the proposal, Industries Minister P Rajeev said the government would extend all support to the business group for implementing the project.

"This major investment proposal reflects on the highly conducive industrial ecosystem prevailing in the state. Also, this is a project that aligns well with the Environmental Social and Governance (ESG) policy of the government," Rajeev said.

The project, coming up at a 96-acre site at Kottoor village near Balussery here, will have a sports integrated education park, amusement park, aligned with the programmes of the national universities and wellness hub.

The project is expected to generate 2,000 direct jobs, the statement said.

"We propose to start the work on the project immediately," company directors Sundheep V Elias and M P Suhail Gafoor added in the statement. PTI LGK ADB