THIRUVANANTHAPURAM: The state government will become a guarantor for the Vizhinjam International Seaport Limited (VISL) to take a loan of Rs 2,100 crore from Nabard. The cabinet on Wednesday decided to issue a nod for various norms in the loan document with amendments. The government guarantee, earlier given for taking a loan from Hudco, will be cancelled.
The government will allow VISL managing director to sign the agreement. Also, the government will pay the interest of the loan taken from Nabard.
Other decisions
* Dr P T Baburaj has been appointed as State Commissioner for Persons with Disabilities.
* A decision was taken to extend the tenure of Gulati Institute of Finance and Taxation director K J Joseph for one more year with effect from July 19.
* The government will provide five-year guarantee for `8 crore, for the State Handloom Development Corporation to take a loan from Kerala Bank.