Rs. 12 K Cr to KIIFB for Coastal, High Range Highways: Kerala FM

KIIFB

Thiruvananthapuram: Kerala Government has allocated Rs. 12,000 crore to Kerala Infrastructure Investment Fund Board (KIIFB), a state agency for fast-tracking the investment funding and approval of basic infrastructural development projects, for materialising highways along coastal areas and high ranges, Finance Minister Thomas Isaac has said.

“Presently, the scope of fundraising for infrastructural development projects lies with capital market. KIIFB is the alternative to this process,” he said. “Collecting toll for revenue is not a feasible model in Kerala,” he added. The Minister was addressing a national seminar on ‘Opportunities and Challenges in Public Infrastructure Financing’ organised by KIIFB at Hilton Garden Inn here.

“Currently, various development projects estimated at Rs. 6,000 crore have been sanctioned by KIIFB and are ready to be tendered. KIIFB is now moving to the next step,” the Minister said. “This national seminar, attended by representatives from banking and investment sectors, SEBI and various government organisations modelled like KIIFB, is a step in this direction,” he added.

Kerala’s initiative through KIIFB in investment funding for infrastructural development is vital in a scenario where the capital market is evolving in its structure, he said. “KIIFB will approve various projects estimated at Rs. 2,500 crore during this financial year itself,” he said. “We can witness progress in Kerala’s basic infrastructure development in the next couple of years. KIIFB’s economy model ensuring loan repayment will help in overcoming the state’s financial stagnancy,” he said, exuding confidence.