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The Indian Super League side said the association was a validation of the club's growing stature.
It is reflecting a weaker-than-expected outturn in the second quarter and more subdued external demand.
Isaac says the loans are taken for meeting capital expenditure to enhance critical infrastructure and welfare schemes benefitting the masses.
Kerala Blasters had won their season opener 3-1 against East Bengal in Kochi on October 7.
Elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.
Geetha Ajit Pillai, MD, CIDCO, reminded Kochi of the origins of its airport as she attended a panel discussion on PPP Projects at the National Urban Conclave – Bodhi 2022 at Bolgatty Palace.
The company, which is an unlisted entity, had posted a profit after tax (PAT) of Rs 1,847.16 crore in 2020-21, down from Rs 2,355 crore that it had recorded in 2019-20.
Hoping to find a resolution to their problems, they approached Chief Minister Pinarayi Vijayan only to see their complaint pushed to the same panchayat that stalled the construction of their resort in 2018.
Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said.
The World Trade Organisation said that the amount of goods shipped between countries are expected to rise 3.5% this year.
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