KIIFB projects delayed; Rs 45000 cr approved, projects of only Rs 7031 cr started
Thiruvananthapuram: Even though Kerala Infrastructure Investment Fund Board (KIIFB) had approved projects worth Rs 45,380.37 crore in the state, only works of Rs 7031 crore have been started. A total of 558 projects were approved while only 228 projects were started so far.
In total, projects worth Rs 50,000 crore were targeted and tender was invited for 315 projects worth Rs 10,600 crore. The contractors were given Rs 2300 crore. The government had developed KIIFB for raising Rs 50,000 crore in five years for developmental projects. The Rs 45,380 crore worth projects include Rs 14,275 crore allotted for land acquisition.
Finance minister Dr. Thomas Isaac said that the execution of projects is progressing in a sluggish pace whereas KIIFB procedures are moving fast. The major issue is the shortage of manpower in the agencies like INKEL (Infrastructure Kerala Limited) and Road Fund Board.
The minister further said that they expect to start projects worth Rs 30,000 by the end of this year. Works of Rs 50,000 crore will begin next year. But not all undertakings will be complete within two years. The coastal highway and similar works will take more years to finish.
The minister also said that the loans will be taken only according to requirement because they will have to pay interest for the amount borrowed. The projects will be implemented faster. 200 engineers are newly appointed in PWD. KIFFB will provide technical help to other agencies, he added.