Will acquire land through KIIFB, no one will be able to stop it: Chief Minister

THRISSUR: Chief Minister Pinarayi Vijayan said that Kerala will raise Rs 20,000 crore through KIIFB for acquiring land for four major projects, and that no one will be able to stop it. He was referring to the Enforcement Directorate’s notice to the government in connection with the Masala Bond issue. The Chief Minister was speaking at an election campaign convention for LDF candidates in Thrissur Corporation.

He said that KIIFB had spent funds for infrastructure development while strictly following Reserve Bank of India guidelines. The ED has alleged that land was bought and resold for commercial profit, but the Chief Minister said KIIFB projects have no real estate interests behind them. According to him, Kerala- once seen as a state without modern development- has made remarkable progress in infrastructure, agriculture, and industrial growth. This, he said, was possible because the Left government got a second consecutive term.

"After 2016, the government spent Rs 44,000 crore through the state budget, but it was not enough, and that is why KIIFB was revived. The initial target was to spend Rs 50,000 crore on infrastructure in the first five years, but projects worth Rs 62,000 crore were implemented. In the next four and a half years, spending through KIIFB rose to Rs 90,000 crore. In total, around Rs 1.5 lakh crore was invested over ten years," he said.

Wayanad tunnel road soon The Chief Minister said that the Kochi–Bengaluru industrial corridor and the Wayanad tunnel road will soon become a reality. The Kovalam–Chettuva waterway will be made navigable soon. Vizhinjam port, the GAIL pipeline, the Water Metro, major advancements in the power transmission sector, and growth in agro-industrial development were all made possible because the Left government got continuous rule, he added.