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HUDCO to invest 
50 billion in Kerala
Monday, 21 October 2002, 19:30 IST
THIRUVANANTHAPURAM: The Housing and Urban Development Corporation Ltd. (HUDCO) has plans to invest about 
50 billion in various infrastructure projects in Kerala over the next five years.
Among the projects planned is a 200-acre ayurveda park, funding of a 500-km expressway connecting Manjeswaram and Thiruvananthapuram, an 200 million facility on the lines of the India Habitat Center in New Delhi, developing the Sabarimala pilgrimage route and restructuring the loan to Cochin International Airport Limited (CIAL).
"So far HUDCO has sanctioned 1,086 schemes with a total assistance of 35.2 billion for construction of 1.3 million dwellings and 76 infrastructure projects in Kerala," federal Minister of State for Urban Development O. Rajagopal told reporters here Sunday.
"In the current (financial) year we are planning to invest 6 billion," HUDCO regional chief K.R. Alva, said.
HUDCO's commitment is a shot in the arm for the cash-strapped Kerala government, which is preparing for the Global Investors' Meet in Kochi in January.
"Among the schemes that are going to be showcased are the expressway and the ayurveda park and we would be in the forefront to fund these projects," Alva said.
Rajagopal said the 1.39 billion loan to CIAL, which has built and runs Kochi airport, is being rescheduled and steps like converting part of it into equity are being considered.
HUDCO has also signed a memorandum of understanding with the Kerala State Housing Board for the development of housing and urban infrastructure. HUDCO will develop properties and arrange loans for buyers.
"We have already commenced a scheme of 35,000 houses in Bangalore and it would be on the same lines in Kerala," Alva said.
Source: IANS
50 billion in various infrastructure projects in Kerala over the next five years.
Among the projects planned is a 200-acre ayurveda park, funding of a 500-km expressway connecting Manjeswaram and Thiruvananthapuram, an 200 million facility on the lines of the India Habitat Center in New Delhi, developing the Sabarimala pilgrimage route and restructuring the loan to Cochin International Airport Limited (CIAL).
"So far HUDCO has sanctioned 1,086 schemes with a total assistance of 35.2 billion for construction of 1.3 million dwellings and 76 infrastructure projects in Kerala," federal Minister of State for Urban Development O. Rajagopal told reporters here Sunday.
"In the current (financial) year we are planning to invest 6 billion," HUDCO regional chief K.R. Alva, said.
HUDCO's commitment is a shot in the arm for the cash-strapped Kerala government, which is preparing for the Global Investors' Meet in Kochi in January.
"Among the schemes that are going to be showcased are the expressway and the ayurveda park and we would be in the forefront to fund these projects," Alva said.
Rajagopal said the 1.39 billion loan to CIAL, which has built and runs Kochi airport, is being rescheduled and steps like converting part of it into equity are being considered.
HUDCO has also signed a memorandum of understanding with the Kerala State Housing Board for the development of housing and urban infrastructure. HUDCO will develop properties and arrange loans for buyers.
"We have already commenced a scheme of 35,000 houses in Bangalore and it would be on the same lines in Kerala," Alva said.
Source: IANS