Asset Management Company to be set up.

As part of the dynamic resource mobilisation means being adopted for the projects funded by the Kerala Infrastructure Investment Fund Board (KIIFB), a 100% government-owned Asset Management Company is to be set up.

KIIFB will sign agreements with merchant banks to issue Masala bonds by floating bids. The 31st meeting of the KIIFB chaired by the Chief Minister Pinarayi Vijayan here on Thursday also gave its nod to take loans from various banks for executing infrastructure projects being executed in the State with KIIFB funds.

The KIIFB also gave its nod for seven projects totalling ₹1,391.96 crore, including ₹324 crore for the procurement of diesel buses for the Kerala State Road Transport Corporation. Two projects each of Higher Education and PWD, one each of Industries Department and Transport Department were cleared.

The development of the Punalur-Kollayi corridor of the Hill Highway in Kollam district has been allotted ₹201.67 crore, Perumbavoor bypass ₹133.24 crore, construction of Karayaanparambu-Angamaly road corridor as part of the Angamaly-Kochi airport bypass Phase I has been given ₹190.16 crore and Bio360 Life Science Park’s Phase II has been given ₹301.17 crore.

Civil and Electrical works for developing CUSAT as and International Centre of Excellence in Academics and Research have been allotted ₹99.48 crore and ₹142.24 crore for the upgradation of CUSAT as Centre of Excellence and Research Laboratory-Equipment.

In addition to these seven projects costing ₹1,391.96 crore, the board also ratified 46 projects costing ₹1,011.50 crore approved by the KIIFB executive committee. Of the 46 projects, 25 are projects of General Education Department, 12 of PWD, five of Sports Department and four projects of SCSTDD. With this, projects to the tune of ₹17,989.11 crore had got the nod of the KIIFB.

The board also reviewed the execution of the projects approved by the earlier board meetings. Finance Minister T.M. Thomas Isaac said the KIIFB will be able to give approval for another ₹38,000-crore infrastructure projects. In 2016-17 and 2017-18, projects to the tune of ₹ 54,179 crore were announced in the budget.

Vice-Chairman of the State Planning Board V.K. Ramachandran, Chief Secretary and CEO of KIIFB K. M. Abraham, Secretaries and other board members attended.

THE HINDU