Rs 250 crore loans given by KSIDC to tourism ventures:Minister

Kochi, Sep 22 (UNI) The Kerala State Industrial Development Corp. (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 5th Kerala Travel Mart here, Mr Kareem said that nearly 40 entrpreneurs have availed of the KSIDC assistance to start tourism-related projects, including hotels, in the state.

Stating that work was starting in full swing on major infrastructure projects, Mr Kareem said that 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 that the state government would assist the Kerala Travel Mart Society to contain any impact of recession on the tourism trade.

Announcing the dates for the next KTM, he said this would be held from September 20-23, 2010.

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 US$ 20 million.

UNI ARC APA2005