KSIDC sanctions Rs 250 crore for tourism development:Minister

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Kochi, Sep 22 (UNI) The Kerala State Industrial Development Corporation(KSIDC) has given loans to the tune of Rs 250 crore to tourism-related ventures in the State, Industries Minister Elamaram Kareem said today.

Addressing a buyer-seller meet at the fifth Kerala Travel Mart here, Mr Kareem said nearly 40 entrepreneurs had availed the assistance offered by KSIDC to start tourism-related projects, including hotels, in the State.

Stating that work was in progress on major infrastructure projects, Mr Kareem said the land acquisition for the Kannur International Airport was expected to be completed by January next year.

Later, addressing a press conference, State Home and Tourism Minister Kodiyeri Balakrishnan said the Government would assist the Kerala Travel Mart Society to contain any impact of recession on the tourism trade. The next KTM would be held for four days from September 20 in 2010, he added.

Earlier, addressing a seminar on 'KSIDC's Role in Tourism Promotion and Financing', KSIDC MD Manoj Joshi said the Corporation had the facility to provide a loan of Rs 20 crore for a project and in consortium with other banks up to USD 20 million.

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