KINFRA Electronic Manufacturing Cluster, Kakkanad, Kochi
KINFRA proposes to develop an Electronic Manufacturing Cluster (EMC) in an area of 66.87 acres of land at Kakkanad, Kochi with proximity to Info Park and Smart City. The project is proposed to be implemented under the Electronic Manufacturing Cluster (EMC) Scheme of Ministry of Electronics & Information Technology (MietY), Govt. of India.
Govt. Of Kerala vide G.O(Rt) No.1290/2014/ID dated 20th November 2014 has also accorded Administrative Sanction for the Greenfield Electronics Park,Ernakulam.
As per the notification of Guideline of Special Purpose Vehicle for implementation of EMC dated 30th January 2014, which are as follows
(i) Constituent units (including industry associations) FIs/ Banks, Academic/ R& D institutions, Govt. agencies and the Chief Promoter and other investors may form the SPV
(ii) At least 7 of the EMC units should be on the Board of Directors of the SPV
(iii) Wherever the SPV is with the participation of the Govt./ Govt agency (State/Local) , there shall be at least one representative of the concerned Govt. or its agency on the Board of Directors in the SPV and any change in the equity structure shall be with the prior approval of the relevant Govt.
(iv) Any changes in the equity structure of the SPV, inspite of whether the Govt or its agency participates as equity partner in the SPV, shall have prior approval of Department of Electronics & Information Technology, Govt. of India
(v) The EMC units must hold 51% of the share capital of the SPV with no single unit owning more than 25% of the share capital. This requirement is to be fulfilled either at the time of the application for assistance or within a specified time period.
Vide letter no 36(23)/2014-IPHW (Vol III) dated 24th August 2016, Department of Electronics & Information Technology, Govt. of India has accorded final approval for the project with KINFRA as the Chief Promoter. The total approved project cost is Rs 140.01 Crores (excluding land cost). The Means of Finance is as follows:
|Sl. No||Particulars||Amount (Rs in Crores)|
|2||Equity from KINFRA||13.68|
|3||Term Loan from South India Bank||37.39|
|4||Equity from Constituent units||38.94|
The total duration of the project is 25 months from the date of the final approval.
- Environmental Impact Assessment (EIA) study – in progress
- Consent to Establish from the State Pollution Control Board – To be obtained after the
submission of EIA report
- A Tripartite Escrow Agreement executed between KINFRA, Ministry of Electronics & Information Technology (MeitY), Govt. Of India (MeitY) and State Bank of India and an Escrow Account opened on 30th December 2016.
- A Memorandum of Agreement has been executed between KINFRA and Ministry of Electronics & Information Technology (MeitY), Govt. Of India on 30th December 2016.
- KINFRA has also executed the bond with Ministry of Electronics & Information Technology (MeitY), Govt. Of India for the grant of 50 Cr on 8th November 2016.