The Hindu Business Line : KSIDC to lay emphasis on promotional activities

THE Kerala State Industrial Development Corporation (KSIDC) is redefining its role by laying increased emphasis on promotional activities and gradually shedding its current image of that of a lending agency.

In line with the new thinking, the corporation is actively involved in preparing project profiles which would be showcased at the forthcoming "global investors meet'' in Kochi.

Mr Jiji Thomson, Managing Director, told Business Line that the corporation was also actively considering an entry into insurance sector and had been negotiating with a couple of insurance companies for floating a joint venture.

He said efforts were on to start work on the Kochi industrial water supply scheme before the investors meet slated to be held by mid-January next year. KSIDC, which is acting as the nodal agency for the Rs 350-crore project, has already shortlisted three bidders, from among whom one will be selected by December this year.

The skybus project in Kochi is another major proposal being readied for the investors meet. The cost of the project has now been scaled down to Rs 850 crore with the total distance to be covered by the service having been reduced to 16.5 km from the originally envisaged 20 km.

However, the ilmenite mining project with an investment potential of Rs 1,200 crore and proposed by the National Mineral Development Corporation has run into problems in the wake of the State Government's new mineral policy which disallows granting of mining rights in the Chavara-Neendakara coast to anybody else other than the State-owned Kerala Minerals and Metals Ltd and Indian Rare Earths Ltd which are already operating in the area.

Another proposal rendered uncertain is the Rs 250-crore sea-sand mining project, which is being objected to by the Fisheries Department on apprehensions that it will harm the fish wealth. The proposal, put up by Crown Maritime, envisages dredging sand from the sea and making it suitable for construction purposes.

Despite these hitches, KSIDC had progressed on a number of other projects such as an international school in Thiruvananthapuram, heritage villages in Thiruvananthapuram and Mavelikkara, an international resort near Nedumbassery airport and golf and mini-golf courses, Mr Thomson said.

These apart, KSIDC have recently invited expressions of interest from project developers to join hands with the corporation to implement a slew projects. These include access-controlled express highways between Thrissur and Kochi and between Thrissur and Malappuram, costing around Rs. 1,000 crore, development of Azhikkal, Beypore and Thangassery ports (Rs. 650 crore), Lakeview Township in Thiruvananthapuram (Rs. 100 crore) and beach resorts at Bekal (Rs. 100 crore).

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