Thiruvananthapuram: The Kerala Infrastructure Investment Fund Board (KIIFB), the State Government’s funding agency, will raise Rs 9,000 crore in additional loans to fund 64 new projects worth Rs 5,681 cr.
The decision was taken at an executive meeting of the KIIFB, presided by Kerala Chief Minister Pinarayi Vijayan here on Monday.
With this, the KIIFB is tasked with implementing a total of 1,057 projects worth Rs 80,352 cr. So far, the agency has spent Rs 23,095 cr for various development schemes. It so far completed projects worth Rs 12,089 cr, Finance Minister K N Balagopal said.
The State Government has decided to let KIIFB borrow more money despite the Central Government deciding to deduct its market borrowings from the loans allowed for the State.
As reported earlier the Central Government has decided to include the Rs 12,562 crore loan availed by the KIIFB and other institutions in 2021-22 in the borrowings of the State. Rs 12,562 crore will be deducted from the amount that the State Government is eligible to borrow. The sum will be deducted in four years in four equal installments of Rs 3,140 crore, restricting the borrowing limit by the state.
Though this deduction will place the treasury under tremendous strain, the State Government feels that the loans are essential to continue the functioning of KIIFB.
The State hopes that the Centre will take a favourable decision on the letter sent to it by the chief minister requesting it not to consider the loan taken by KIIFFB as the loan of the State Government.
Major new projects
· Construction of an education complex at Pinarayi village at a cost of Rs 232 cr.
· Construction of Women & Child block at Thrissur Medical College at a cost of Rs 279 cr.
· Rs 32 cr for the construction of the Chilavanoor bund road bridge, part of the integrated water transport project, and another Rs 341 cr for setting up a sewage plant at Elamkulam.
· Rs 1,979 cr for land acquisition purposes for setting up three roads as part of the Kannur airport connectivity package.
· Rs 203 cr for acquiring land for setting up of the Trivandrum Engineering Science & Technology Research park at Vilappilshala.
· Rs 467 cr for Mattanoor-Iritty, Koyilandy Municipality, Tanur Municipality drinking water distribution projects.
· Rs 582 cr for the implementation of nine Hill Highway projects.
· Rs 139 cr for land acquisition as part of four Coastal Highway projects.
· Rs 262 cr for land acquisition for the Aluva-Perumbavoor road.
· Rs 113 cr for Kodinada-Vazhimukku road construction, including the setting up of the Thiruvananthapuram Balaramapuram underpass.
· Rs 110 cr for land acquisition for the Kottarakkara bypass project.
· Rs 89 cr for enhancing facilities at Kovalam and nearby beaches.
. Rs 52 cr for land acquisition for widening the Manacaud-Attukal Temple road in Thiruvananthapuram district.
· Rs 43 cr for the development of the Immunology department of the Thiruvananthapuram Medical College.
