THIRUVANANTHAPURAM: The board meeting of the
Kerala Infrastructure Investment Fund Board (
KIIFB) has given clearance to infrastructure development projects worth Rs 1,030.46 crore.
According to finance minister
T M Thomas Isaac, funds have been sanctioned for projects, including roads, hill highway and construction of taluk hospital and zoological park. In total, the board has so far cleared 383 projects with a total plan outlay of Rs 23,414.4 crore.
The KIIFB board meeting has decided to direct the special purpose vehicles (SPVs) formed for the projects to submit comprehensive reports with added facilities to turn the road development projects into "signature projects".
The roads developed under the "signature project" tag would have cycle tracks, modern waiting centres, refreshment centres, Wi-Fi facilities, solar lights and parking areas.
It was also decided at the meeting to inaugurate the lab facility being set up for quality assessment of infrastructure projects under KIIFB, on June 21.
As part of the follow-up actions towards the issuance of offshore Rupee denominated bonds (masala bonds), DLA Piper, Cyril Amarchand Mangaldas and
HSBC have been appointed as international legal counsels and domestic legal counsel trustees.
Fitch and S&P have been appointed as the rating agencies. More discussions on the issuance of the bonds would be held in June and the bonds would be issued in the first week of July.
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