The State government signed an agreement with Morex Group for the development of Bekal Tourism Village project with an estimated investment of ₹250 crore, which stands out as the first investment proposal to become a reality among a raft of schemes showcased at the Tourism Investors Meet 2023 (TIM).
Tourism Minister P.A. Mohamed Riyas handed over the licence agreement for the Bekal Tourism Village project to Sherief Maulakkiriath, chairman & managing director, Morex Group of Companies, Kanhangad, at a function here on Wednesday.
Bekal Resorts Development Corporation Limited (BRDC), a PSU under the Department of Tourism, is the implementing agency of the Bekal Tourism Village project in Kasaragod district.
Speaking on the occasion, Mr. Riyas said Bekal Tourism Village project was presented under government project category in the TIM, where investment proposals of ₹15,000 crore cropped up. “Several investors evinced interest in this project and so an Expression of Interest (EoI) was invited from them. After scrutinising the documents and following official procedures, Morex Group was selected,” the Minister said.
The Minister said Morex Group will invest ₹250 crore in two phases for the Bekal Tourism Village project, which includes tourism activity zones that can be enjoyed by domestic and foreign tourists. The project will help ramp up the tourism potential of Bekal and the Malabar region as a whole. Bekal is also going to grab the attention as a Meetings, Incentives, Conferences and Exhibitions (MICE) and destination wedding centre, said the Minister.
“As a follow up to the TIM, the newly set up facilitation centre is carrying out close scrutiny of investment proposals and in the coming months, more projects will become fruitful,” he said. Noting that tourism will generate more job opportunities, Mr. Riyas said the tourism development needs more private investment in novel projects in the State.
As per the agreement, around 33.18 acres of land at Kolavayal in Ajanur panchayat, Hosdurg taluk, in Kasaragod district will be handed over to the Morex Group for the project. The licence period is 30 years.
