Government fixes charges for KIIFB projects

The Finance Department has fixed the charges for projects of Kerala Industrial Infrastructure Investment Fund Board (KIIFB) to be executed by SPVs.

Published: 12th June 2017 04:44 AM  |   Last Updated: 12th June 2017 04:44 AM   |  A+A-

By Express News Service

THIRUVANANTHAPURAM: THE Finance Department has fixed the charges for projects of Kerala Industrial Infrastructure Investment Fund Board (KIIFB) to be executed by SPVs.

The government had earlier decided to execute KIIFB projects through SPVs only. The guidelines follow a request by the SPVs to pay their charges directly by the KIIFB to avoid time delay in project execution.

Centage charges for various infrastructure works are fixed under four heads- Rs 10 cr - Rs 25 cr, Rs 26 cr- Rs 100 cr, Rs 100 cr - Rs 250 cr and Rs 250 cr and above.  

20 percent of the centage charges will be paid to the SPV as advance as soon as the SPV gets sanction from the administrative department concerned. For specialised services, actual expenditure will be paid as per the prevailing norms.

Classified specialised services include model studies, energy simulation, risk analysis and environmental impact assessment, secretary of the administrative department concerned will examine the claim of the SPV.

Claims for additional charges for specialised services should be sanctioned by the administrative department only with the concurrence of the Finance Department.

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