KOCHI The State government has approved a land allotment policy in industrial areas and on industrial estates that will help unit owners easily diversify into new areas, add new partners in their ventures, transfer units, and even leverage property for raising loans from financial institutions. ‘This has been a long-standing demand, and industrialists in the State are happy that the government has approved the land allotment policy,’ Kerala State Small Industries Association president A. Nizarudeen said on Saturday, echoing the sentiments of other industrialists in the State.The units in industrial areas have already paid off their dues to the government, which had introduced a hire purchase agreement for the land around 1965.Mr. Nizarudeen said a total of 1,279 units housed in industrial estates and industrial areas under the Directorate of Industries would immediately benefit from the government’s decision to allot land that they had already purchased under the hire purchase scheme. Industrial estates were established on land set aside for the purpose to develop concentrated infrastructure facilities so as to cut down expenses for investors.