Indo Gulf and Middle East Chamber of Commerce (INMECC) has proposed to launch an initiative to revive sick industrial units in Kerala depending on its revivabilty and market potential of its products.
The idea is to identify such industries and carry out expert studies to find the reasons for being sick, details of liabilities and encumbrances, possibility of rebuilding and restructuring, future market potential and to prepare new DPR by hand holding the promoter.
The scheme is aimed at helping investors who are stuck in problems and are not able to start the venture by themselves. The DPR prepared by expert bodies would be presented before potential NRI investors through regional INMECC chapters in GCC countries, said N. M Sharafudheen, Chairman.
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The additional investment needed to revive the industry will be in the form of equity only.
Kerala has a large number of industrial units marked as sick units. These units are closed for various reasons. Huge investments spent to establish these units are stuck and are considered as dead investment.
Entrepreneurs who are experiencing difficulties in running their units and are confident in taking their units forward with professional partnership and support may contact and register with INMEC, said Sharafudheen.