KSIDC profit at Rs 39 cr on Rs 205-cr loans

Kerala State Industrial Development Corporation (KSIDC), the investment promotion agency of Kerala government, has registered a net profit of Rs 39 crore in 2010-11, which is 64 per cent higher compared with the previous year. At Rs 49 crore, the total income grew 54 per cent.

According to a press statement, the corporation has sanctioned projects involving a capital investment of Rs 722 crore with direct term loan assistance of Rs 205 crore in financial year 2010-11. This represents a 179 per cent growth over the previous year, it said.

A majority of projects promoted by the corporation during the year were from tourism and manufacturing sectors, but also included projects in IT, health, logistics, infrastructure and agro and food processing sectors. The new projects are expected to generate employment for 15,000 persons directly and indirectly.

KSIDC said that during the year, it had initiated various industrial and infrastructure projects that are strategically important to Kerala’s industrial and economic development. The cumulative investments in these projects are expected to be over Rs 1 lakh crore.

The high speed rail corridor connecting north to south of the state involves an investment of Rs 60,000 crore and is expected to provide a major fillip to the development of industry and commerce in the state, besides providing a new dimension to transportation infrastructure.

The other projects promoted by KSIDC include the Kochi-Coimbatore Industrial Corridor, the 1,200 MW gas-based thermal power project at Cheemeni in Kasargod district, Electronic Hardware Park at Kochi, a life sciences park for manufacturing and R&D facility for biotechnology, nanotechnology, contract research, city gas distribution project for automobile and domestic use, Oceanarium, an underwater aquarium and marine research centre, and a titanium sponge plant are among the major projects promoted by KSIDC.

The corporation said it had also developed the basic infrastructure facilities in the industrial growth centres in Kannur, Kozhikode and Alappuzha districts. Infrastructure amenities such as water, power, approach roads and communication facilities have been created by KSIDC in these parks. The various projects coming up in these parks include an apparel park, rubber processing units, footwear park and many other innovative projects.