Kerala to float private-public partnership to create infrastructure

New Dehi, Jan 8 (UNI) Enthused by the success of the first private international airport at Kochi, Kerala is to float a Public Limited Company with a 74 per cent NRI shareholding to create industrial infrastructure as part of its measures towards rapid industrialisation.

The proposal was today announced by Kerala Industries Minister Elamaram Karim at the Pravasi Bharatiya Divas, as the NRIs and overseas Indian delegates received it with an ovation.

Addressing the plenary session, he said the government had recognised the need to provide world class, state-of-the art infrastructure as an essential condition for the rapid industrialisation of the state.

"For this the government of Kerala is in the process of floating a Public Limited Company on the model of the Cochin International Airport," he said, pointing out that the company would have an authorised share capital of Rs 100 crore.

He said the company would be known as "Infrastructure Kerala Limited " (INKEL).

Mr Karim said the government, the Kerala State Industrial Development Corporation and the KINFRA would have 26 per cent of the share holding in the company, leaving the remaining 74 per cent to non-resident Keralites across world.

"The company will build quality infrastructure, required to attract high-tech industries," he said.

Mr Karim urged the NRIs to invest in the booming tourism in the state.

UNI