KSIDC hands over Rs 1.75 crore to Kerala Govt

State public sector unit Kerala State Industrial Development Corporation (KSIDC) today handed over a cheque for Rs 1.75 crore to the state government as its profit share for the fiscal 2013-14.
KSIDC Managing Director M Beena handed over the cheque to state Minister for Industries and IT P K Kunhalikutty at his chamber here.
For the past eight years, KSIDC has been consistently paying out dividend to the state government, a release said.
In the financial year 2013-14, KSIDC sanctioned projects involving a capital investment of Rs 152.38 crore with direct term loan assistance of Rs 54 crore and share capital assistance of 18.37 crore.

The new project is expected to generate employment for 1,000 persons directly or indirectly.
The Corporation has also registered Rs 60 crore in disbursement and a record of Rs 101 crore in recovery for 2013-14. The income has come to Rs 53.48 crore during 2013-14 and the profit was 30.49 crore, it said.
KSIDC has diversified its activities to creating infrastructural for various industries in the state.
Besides development of basic facilities at Industrial Growth Centres, KSIDC is actively involved in the development of Life Sciences Park, Business Incubation Centres, Light Engineering Industrial Park, Electronic hubs, Women's entrepreneurial and Youth's entrepreneurship activities, the release added.