State to form NRK investment company
Thiruvananthapuram: The Kerala cabinet has decided to form an investment company with the partnership of expat Keralites under the name NRK Investment and Holding Company Limited. The company's 74 percent shares will be owned by NRKs and 26 percent shares will be kept by the government.
A special-purpose entity or subsidiary company can be formed under the main company for this. The company is formed in order to implement projects in NRI township and development of basic facilities.
Formation of the NRK investment company is one among the major recommendations made by the standing committees of World Kerala Assembly. The cabinet decided to appoint NORKA Roots Chief Executive officer as the special officer of the company.