Ready to fund major projects

THIRUVANANTHAPURAM: The Kerala State Power and Infrastructure Finance Corporation Limited (KSPIFC), which was incorporated as a public limited company in 1998 and funding exclusively for the Kerala State Electricity Board (KSEB) projects is now looking for funding options."We are ready to give financial assistance to all the major viable projects in the state including Kannur Airport, Vizhinjam Port, commercial complexes and other Build Operate Transfer (BOT) projects. There were also plans to undertake own projects on BoT basis by the Corporation, which was dropped following delay in receiving the returns and also the likely problems to be faced for maintenance of the project,” KSPIFC business manager and MD K K Devi said.There are plans to borrow Rs 100 crore more for major infrastructure projects in the state by PSUs or other government agencies.The Corporation has a fund of Rs 50 crore now and if the fund is utilised properly, there are plans to give request for budget allocation in the next financial year.Devi pointed out that the biggest attraction of the Corporation funding is that there are no hidden charges and processing fee, and the interest rate for the loan is the lowest when compared to any other money lending organisations.