Final approval for KIIFB projects worth G 3,800 crore

It’s expected projects to the tune of C40,000 crore will begin this fiscal year.

Published: 19th July 2017 07:44 AM  |   Last Updated: 19th July 2017 07:44 AM   |  A+A-

By Express News Service

THIRUVANANTHAPURAM: Construction work to the tune of C3,800 crore across the state through KIIFB has been given the final nod. Memorandums of Understanding (MoU) have been signed for projects worth Rs 3,816 crore. The MoUs were signed between the CEO of the Kerala Infrastructure Investment Fund Board (KIIFB), Department Secretaries and managing directors of various Special Purpose Vehicles. It’s expected projects to the tune of around Rs 40,000 crore will begin in the current financial year. 

The MoUs for projects under various departments including Forest, Health, IT, PWD, Water Resources, Power and Education were signed. In water resources, KIIFB had approved project worth `1,257 crore. Projects in other departments, including PWD (Rs 1,093 crore), education (Rs 493 crore), Power (Rs 372 crore), IT (Rs 351 crore), health (Rs 149 crore) and forest (Rs 100 crore) have also been included.

Once the contractors are assigned with the work through tenders, KIIFB will provide the funds  online. The MoU stipulates conditions for project monitoring and supervision. Software have been made for online monitoring. According to official estimates, work to the tune of around Rs 1,000 - 1,500 crore will begin each month.

The confusion regarding procedures for sanctioning projects has been rectified. The projects should be given administrative sanction by the departments concerned. In the case of projects mentioned in the budget speech, there’s no need for any approval.

The preparation of DPR of projects mentioned in the budget is going on. The PWD and Irrigation Departments can prepare the DPR with their own officers or entrust the task of the SPV concerned. The SPVs can assign consultants with the task. The expenditure for the same would be met by the Finance Department. The Detailed Project Report should be submitted online before KIIFB. 
Currently projects worth Rs 8,000 crore are in the final stages of approval. These are likely to be approved in the coming two to three months. 


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