KOCHI: Kerala’s investment drive under the Invest Kerala Global Summit has crossed a major milestone with the foundation stone of the 100th project being laid at Chununganveli near Aluva. The project — a Rs 250-crore A-grade warehousing and logistics facility promoted by NDR Space Pvt Ltd — forms part of Kerala’s total Rs 36,000-crore investments garnered through the summit held in February this year, said Industries Minister P Rajeeve.

Speaking at the ceremony, the minister said the state’s investment efforts had created nearly 50,000 employment opportunities. “Kerala has achieved a 24 per cent conversion rate of investment proposals — a strong indicator of our policy stability and ease of doing business. In many other states, this figure stands at 14-15 per cent,” he said.

The Aluva project by NDR Space, spanning 16 acres, will feature both semi- and fully automated systems for efficient inventory and stock management. The facility, designed to be EDGE-certified for sustainable construction and energy efficiency, will serve sectors such as FMCG, pharmaceuticals, e-commerce, and third-party logistics (3PL).