Kerala Govt plans to float infrastructure company

Kochi, July 30 (UNI) In a bid to woo more investors to Kerala, the State Government was planning to float a 200-crore public limited company to provide world-class infrastructure for the industries.

Talking to newspersons here yesterday State Industries Minister Elamaram Kareem said ''the proposed company will provide infrastructure for the industries to create a investor-friendly atmosphere in the State.'' Mr Kareem said the Government will have a 26 per cent stake in the company and the remaining 74 per cent will be held by Non-Resident Indians (NRIs) and public. The focus areas of the proposed company will be manufacturing sector, education, IT and tourism, he added.

Earlier, the minister along with State Finance Minister Thomas Issac, Fisheries Minister S Sharma and other senior Government officials, held an interactive session with 30 leading industrialists of the State to discuss the various possibilities of the project.

He said the SBI, Federal Bank and South Indian Bank had expressed their willingness to be part of the project through equity and by providing loans. The Government has set aside Rs 20 crore in the budget for the venture and the company would be registered by September, he added.

The company will be on the lines of the Cochin International Airport Limited (CIAL) with operational flexibility and will help in tapping the skilled labour and make the State the preferred destination of the investors, he said.

On the revival of ailing industries in the State, the minister said the Government was making a priority study on the matter and have selected certain undertakings for redemption process to make them self-sufficent.

The Government will also list out those concerns, which cannot be revived, he added.

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