Thiruvananthapuram: The state cabinet has approved the formation of a global consultancy company under KIIFB (Kerala Infrastructure Investment Fund Board). Named KIFFCON Private Ltd, the firm will provide consultancy services in India and abroad.
KIFFCON will be a private limited company with an authorised capital of Rs 1 crore. Initially, KIIFB will hold cent percent stake in the new venture, and subsequently, a maximum of 51 per cent shares will be allotted to reputed companies through disinvestment. The government will appoint the functional directors for a term not less than five years.
The company will take up basic infrastructure development projects and allied technical aspects in various sectors, including urban planning, energy management and distribution, transportation, construction, mechanical, electrical and plumbing works, and port and coastal area development.
The initiative's main objective is to bring and provide various consultancy services under a single umbrella.
The company will also extend engineering design services in the architectural, structural, mechanical, electric and plumbing sectors in India and abroad.
KIFFCON will also provide project development services, including feasibility study, survey, environment and social impact assessment studies, and other requirements for detailed project report preparation and allied activities.