2 October 2005

COCHIN -- The marine and boating industry in Kerala has shown keen interest in the Marine City proposed by the Hamariyah Free Zone Authority (HFZA) at Sharjah for promoting marine and maritime related industries.

The project, which is proposed to be implemented in three-phases, was showcased at the three-day India International Boat Show now going on in the port city by a three-member HFZA team led by Director-General Rashid Al Leem. The boat show is being attended by some of the best known boating and marine equipment brands as exhibitors besides 500 pre-registered buyers and trade visitors.

Rashid Al Leem told Khaleej Times that three companies based in the state had already agreed to send their representatives to Sharjah next week to see the facilities. He said they are keen to get more investors from Kerala since it has long maritime tradition as well as excellent trade relations with Gulf countries.

The senior HFZA official said they would promote the project, which will be focusing on marine services, dry-docking, ship manufacturing and designing and ship repair and maintenance, in 30 cities across the world. "Cochin is number one in our list. We will extend all facilities to the entrepreneurs from the city," he added.

The boat show is being organised by the government with the objective of developing the city as the hub of the Indian boating and marine industry. A number of initiatives are on to augment the infrastructure. They include the proposed 60-berth marina and smart waterways. The Hamariyah Free Zone officials had visited Cochin in February last year also as part of their attempt to hunt investors from the region.

Rashid Al Leem said delegates from other parts of the country and abroad had also shown interest in the project. "We are looking forward to international investments as well as associations with other companies and authorities specialized in the maritime sectors," he added.

He said natural gas would be unique selling point of the proposed city. "We hope this will attract lot of investors not only from India but also other countries." He said the first phase development of the city estimated to cost Dh80 million would start soon. The Hamariyah Free Zone, which is providing a host of facilities and incentives to investors, has attracted maximum investors from India. He said more than 30 per cent of the 950 companies from 80 countries that set up shops in the zone were Indian.

FROM OUR CORRESPONDENT

© Khaleej Times 2005