India Business
Excellent response to Kerala's new infrastructure firm
Mar 18, 2007 - 5:22:31 PM

Kochi, March 19 - The setting up of an infrastructure company in Kerala has received a big response with offers worth Rs.1 billion by non-resident Keralites - and big investors from the state.

Infrastructure Kerala Ltd - has already identified locations in capital Thiruvananthapuram, Kochi and other places, where it would set up basic infrastructure for investors interested in starting sunrise industries.

The new company registered early this month will be formed as a public-private partnership and will be different from the state-owned Kerala State Industrial Infrastructure Ltd and Kerala State Industrial Development Corp.

The total paid up capital of the company would be Rs.1 billion, and the Kerala government would hold 26 percent stake.

Speaking to IANS John Mathai, special officer of InKel, said a meeting held here Saturday night that was attended by around 60 people comprising NRKs and big investors.

'We have decided at the meeting that 26 percent of the stakes would be held by small investors who would contribute Rs.100,000 each and the rest would be taken by big investors. The NRKs can take shares of Rs.100,000 and also contribute more,' said Mathai, a former state chief secretary.

It was also decided to hold road shows in the UAE, Kuwait, Saudi Arabia, Doha, Oman and Bahrain to woo the NRKs to invest in the project.

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