Thiruvananthapuram: The Kerala Infrastructure Investment Fund Board (KIIFB) director board meeting on Saturday gave financial sanction to 10 new projects worth Rs 932.69 crore. With the latest approval, KIIFB has given financial sanction to 912 projects worth Rs 64, 344.64 crore, state finance minister K N Balagopal said.
The KIIFB executive committee had earlier approved another set of seven projects worth Rs 144.23 crore. The board and executive committee meetings together have thus cleared a total of 17 projects worth Rs 1, 076.62 crore.
The projects that have been given financial sanction by the board include a 10-bed isolation wards in 140 hospitals across Kerala in view of the pandemic situation in the state. Four projects proposed by fisheries sector include renovation of 26 fish markets.
Renovation of three markets under local self government department in Aluva and Nedumangad municipalities, modernization of an abattoir at Kaloor, a rehabilitation package which is part of the cleaning work on the west-coast canal in Thiruvananthapuram under costal shipping and inland navigation department and renovation of the damaged sea wall along the Chellanam coast and setting up of groynes for coastal protection are among the other projects that received the board’s clearance.
Rs 2,100cr for funding green projects: The board meeting also gave a go ahead for borrowing Rs 2,100 crore from domestic and international markets to promote non-conventional energy projects it had undertaken as part of infrastructure development initiatives.
As part of the move, KIIFB would raise Rs 1,000 crore from the domestic market through the sale of green bonds and another Rs 1,100 crore loan from International Financial Corporation. The repayment term for this loan is 10 years. The agency is required to obtain regulatory approval from the central agencies and other institutions concerned.
By way of loans from various banks, development financial institutions and bonds, the agency has borrowed Rs 9,104.81 crore so far out of the total sanctioned amount of Rs 10,167.34 crore
It received Rs 8848.91 crore from the motor vehicle tax and petroleum cess from the state government. KIIFB is expected to receive around Rs 1,299 crore more from these sources during the 2021-22 fiscal.
The funds thus sourced would be used exclusively for a string of green initiatives taken up the board.
The 42nd board meeting of KIIFB was the first one to be attended by Balagopal who replaced T M Thomas Isaac as the state finance minister in the second term of Pinarayi Vijayan government.
The KIIFB executive committee had earlier approved another set of seven projects worth Rs 144.23 crore. The board and executive committee meetings together have thus cleared a total of 17 projects worth Rs 1, 076.62 crore.
The projects that have been given financial sanction by the board include a 10-bed isolation wards in 140 hospitals across Kerala in view of the pandemic situation in the state. Four projects proposed by fisheries sector include renovation of 26 fish markets.
Renovation of three markets under local self government department in Aluva and Nedumangad municipalities, modernization of an abattoir at Kaloor, a rehabilitation package which is part of the cleaning work on the west-coast canal in Thiruvananthapuram under costal shipping and inland navigation department and renovation of the damaged sea wall along the Chellanam coast and setting up of groynes for coastal protection are among the other projects that received the board’s clearance.
Rs 2,100cr for funding green projects: The board meeting also gave a go ahead for borrowing Rs 2,100 crore from domestic and international markets to promote non-conventional energy projects it had undertaken as part of infrastructure development initiatives.
As part of the move, KIIFB would raise Rs 1,000 crore from the domestic market through the sale of green bonds and another Rs 1,100 crore loan from International Financial Corporation. The repayment term for this loan is 10 years. The agency is required to obtain regulatory approval from the central agencies and other institutions concerned.
By way of loans from various banks, development financial institutions and bonds, the agency has borrowed Rs 9,104.81 crore so far out of the total sanctioned amount of Rs 10,167.34 crore
It received Rs 8848.91 crore from the motor vehicle tax and petroleum cess from the state government. KIIFB is expected to receive around Rs 1,299 crore more from these sources during the 2021-22 fiscal.
The funds thus sourced would be used exclusively for a string of green initiatives taken up the board.
The 42nd board meeting of KIIFB was the first one to be attended by Balagopal who replaced T M Thomas Isaac as the state finance minister in the second term of Pinarayi Vijayan government.
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