THIRUVANANTHAPURAM: The governing body of Kerala Infrastructure Investment Fund Board (KIIFB) on Saturday sanctioned `1030.46 crore aid for six important projects including the hill highway and zoological park. So far KIIFB has allocated `2,3414.4 crore for 383 projects.
It was decided to brand the roads built with KIIFB ’s assistance as signature projects by setting up facilities like cycle track and bus shelters with modern facilities. Footpath, signboards, refreshment centres, Wi-fi, solar lighting and parking area will be the other features.
The inauguration of the lab equipment to examine the quality and technical standard of projects executed with KIIFB assistance will be held at the Kanakakkunnu Palace here on June 21. The board assigned the CEO to submit a recommendation to the government to ensure timely transfer of motor vehicle tax and petroleum cess to the KIIFB through an automated escrow mechanism.
DLA Piper, Cyril Amarchand Mangal Das and HSBC were appointed as international legal counsel and domestic legal counsel trustee for issuing masala bonds. Fitch and S&P were appointed rating agencies. Bonds will be issued by July first week. Also, the first volume of the KIIFB newsletter was released and Pravasi Chitty will be launched soon.