5681.93 crore worth projects approved by KIIFB 

THIRUVANANTHAPURAM: The KIIFB executive meeting, chaired by Finance Minister KN Balagopal, approved projects worth Rs 5681.93 crore, including land acquisition for road development. This is for 64 projects. With this, the number of projects sanctioned by KIIFB in the state has increased to 1057 and funds to 80,352.04 crores.

Minister Balagopal said that land will be acquired for 36 road development projects of the Public Works Department. 3414.16 crore is required for this. 32.17 crore for the Chilavannur bund road bridge in Kochi under the Coastal Shipping and Inland Navigation Department, 341.97 crore for the Elamkulam Sewage Plant, 600.48 crore for nine projects under the Higher Education Department, and 467.32 crore under the Water Resources Department, Two projects worth Rs 42 crore under the LSG Department, Rs 47.93 crore for an indoor stadium in Pathanamthitta, Rs 31.11 crore for renovation of eight schools and Rs 10.24 crore for a translational research center under the Department of Animal Welfare have been sanctioned.

9000 crore loan will have to be taken

The Minister said that KIIFB will have to take an additional loan of 9000 crores this year. KIIFB has no restrictions on borrowing. But the crisis is caused by the central move to limit the general availability of these loans to the state government. A letter has been given to the Center to withdraw it. If the Center takes a suffocating stance, Kifbi will be affected.

Currently, KIIFB's reserve is 6959 crores. 3632 crores in sanctioned loans. Apart from this, 9000 crores will have to be raised. KIIFB has spent 23091 crores so far. 12606 crore has been handed over to KIIFB by the state government so far in the form of motor cess.