THIRUVANANTHAPURAM — CPI-M-led LDF government in Kerala is in the process of wooing private investments to the tune of Rs 10,000 crore and also plans a mega joint venture project with Russian-based company Roseboron to set up a 10,000 tonne capacity titanium sponge unit, State Industries Minister, Mr Elamram Kareem said on Tuesday.

As part of encouraging private investments, government had already signed a MoU with Shoba Groups to set up Shoba Hightech City at Kochi with an investment of Rs 5000 crore, the Minister told a press conference held in connection with the second anniversary of LDF rule.

The single window clearance committee headed by Chief Minister, Mr V S Achuthanandan would meet soon to consider the projects of Shoba group, he said.

Discussions with the Russian company for the titanium sponge unit at Chavara in Kollam district was progressing, he said. The company has followed its project report showing an investment of Rs 960 crore, he said.

An expert technical committee would evaluate its technical aspects and Engineering India would examine the financial aspect of the report, he said.

State government would like to have the Indian government also as a partner in the project, and that would benefit the state very much, he said. Referring to the Special Economic Zones in the state, Mr Kareem said state government would soon forward to the Centre applications of eight industralists for approval.

A total of 17 applications for SEZ sanction was pending in the state, he said. In the case of nine other applications, he said projects details did not mention about the land acquired by them.

The LDF was of the view that lands for SEZ should not be forcibly acquired and major portion of land should be used for industrial purpose.

Mr Kareem said work of setting up the titanium sponge factory jointly by ISRO and Kerala Metals and Minerals at Chavara was progressing and the unit was expected to be commissioned by July 2009.

The Government has formulated a scheme to rejuvenate the sick and closed small scale industries. A committee appointed by the government to study the problems and recommend measures would submit its report on May 31. Further steps in this regard would be taken after getting the report, he said.

Land acquisition process of the 'Spices Park' at Idukki and 'Food park' at Waynad was in progress,he said.