The industrial park to be established by the Kerala Rubber Limited (KRL), a public-private partnership (PPP) company, is slated to be functional in three years.
As per the revised Detailed Project Report, the project, which will come up on 164.86 acres on the campus of the erstwhile Hindustan Newsprints Limited at Velloor, requires an investment of ₹253.58 crore. Works on the park will begin in May next year and on completion, it will generate up to 8,000 jobs.
It further states that the industrial park will greatly benefit rubber farmers in the State as it will stimulate production of natural rubber and creation of value-added products. It will also help in the processing of the materials and marketing of products.
