THIRUVANANTHAPURAM: The KIIFB meeting chaired by Chief Minister Pinarayi Vijayan sanctioned seven new infrastructure development projects worth Rs 13,886.93 crore. The meeting also ratified the approval given by the KIIFB executive committee to sub-projects worth Rs 2,518.35 crore, Finance Minister Thomas Isaac said on Thursday.
Sanction was given for acquiring land for industrial infrastructure development in Kannur and Palakkad at a cost of Rs 12,710 crore. So far, KIIFB has given approval for projects worth Rs 39,716.57 crore.
The meeting reviewed the implementation and progress of projects approved in earlier meetings. It also discussed the asset management company to source funds for the KIIFB and issue of masala bonds through the London and Singapore stock exchanges, availing loans from different banks and progress of the Pravasi Chitty. The first masala bond will be issued this month. The board also decided to approach the government for sanction to utilise modern road construction techniques. In-principle nod was given for using funds from NRKs in KIIFB welfare projects.