KIIFB nod for 10 more projects; total spending touches Rs.13,000cr

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Thiruvananthapuram: The executive committee of the Kerala Infrastructure Investment Fund Board (KIIFB) chaired by Chief Minister Pinarayi Vijayan has given financial sanction for 10 more development projects worth Rs.932.69 crore.
With this, the total number of the sanctioned KIIFB projects rose to 912, with a total cost to the tune of Rs.64,344.64 crore, Finance Minister K.N.Balagopal said on Saturday.
The KIIFB executive committee also gave administrative sanctions for seven more projects worth Rs. 144.23 crore.
These projects include reconstruction of the damaged sea wall and construction of `pulimoottu' in Chellanam in Ernakulam district by the Water Resources Department and construction of 10-bed isolation wards in each govt hospital in all the 140 Assembly constituencies by the Health Department.
The meeting allocated Rs,1395.01 crore for land acquisition purposes for constructing three new stretches planned as part of national highway widening.
The meeting approved the plan for spending Rs.1275 crore for rehabilitating those who would be displaced in Kovalam, Akkulam, Veli, Kadinamkulam and Varkala due to the widening of Kovalam-Kasargod National Waterways.
The meeting also decided to construct railway overbridges in Nalukody in Kottayam, Nellayi in Thrissur and Venkulam in Thiruvananthapuram.
The volume of funds allocated for each department is as follows: General Education - Rs. 10.77 crore, Health - Rs. 236.43 crore, PWD - Rs.103.43 crore, Water Resources - Rs. 374.23 crore, Coastal Shipping and Inland Navigation - Rs. 247.20 crore, Local Administration - Rs. 47.92 crore, Fisheries - 57.06 crore.
KIIFB has spent Rs.13000cr so far
The KIIFB has till now spent almost Rs.13000 crore for various development projects. It took loans from banks and other financial institutions to the tune of Rs.9104 crore for funding the projects.
Till now, the agency got Rs.8,848 crore as revenue from petroleum cess and motor vehicle tax. This year, a revenue of around Rs.1299 crore is expected from the above taxes.
The KIIFB will soon receive a loan of Rs.1,100 crore from the International Financial Corporation (IFC) for eco-friendly projects.
The tendering work for projects worth Rs.23845.14 crore has been completed whereas the work on projects worth Rs.21176.35 has been launched.