Edayar Zinc Ltd, formerly known as Binani Zinc Ltd which stopped its zinc smelting activities in 2014, has now announced their revival project, 'Fortune Grownd', a multi-zone industrial park and logistics hub in Kerala.
The project worth Rs 800 crore, will be developed on the company's 108 acres of land in the Edayar Industrial Development Area, and will be the first of its kind multi-zone industrial and logistics park in the state.
The promoters, in a release, stated that the initial phase of the construction shall commence in the first quarter of 2023, and the facility would be operational by 2026 and is expected to create a minimum of 6,000 job opportunities.
Abdul Salim, the chairman of Edayar Zinc Ltd, said Kerala has immense potential for SMEs, and their project will align with the Kerala government's Industry First initiatives and the grand vision of achieving one lakh MSMEs in the state.
"The project will also be the first facility to introduce logistics as a full-fledged industry beyond traditional warehousing and transportation activities," Salim said.
Mohamed Bismith, managing director of the company, said the restructuring and settling the firm's liabilities and launching a revival project was both challenging and exciting.
"The Rs 800 crore project will be a milestone in Kerala's industrial history and shall be the first industrial infrastructure based on sector-based clustering. The proposed facility will be one of the largest in Kerala, with 25 lakh sq ft. of constructed industrial, logistic warehouses and socio-infrastructure facilities," Bismith said.
He thanked the support extended by the state government, industrial department and joint trade union of EZL workers.
According to the DPR, the project would attract about 100 industrial and manufacturing units bringing in a consolidated investment of Rs 2,500 crore.
Company representatives claimed that the facility would emerge as a globally competent ground for entrepreneurs, manufacturers, and traders.
