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Cabinet approves fund mobilisation for projects

Cabinet approves fund mobilisation for projects

Thiruvananthapuram: Cabinet Wednesday approved a slew of fund mobilisation scheme to continue with infrastructure projects which faced hurdles in implementation stage due to financial crunch.

The schemes formulated envisages to meet emergency needs, short term and long tern requirements in the development of infrastructures, Chief Minister Oommen Chandy said during cabinet briefing here.

"There were some bottle-necks in infrastructure development and the initiative was to sort out this", Chandy said.

Kochi Metro, Thiruvananthapuram and Kozhikode "Light Metro", Vizhinjam International container terminal, Thiruvananthapuram-Chengannur Suburban rail, Kannur Airport and road development were some of the projects that needed huge investments, an official release said.

A total investment of around Rs 25,000 crore was required.

The Cabinet approved the scheme on the basis of a report submited by a committee under the Chairmanship of K M Chandrasekhar, Vice Chairman, State Planning Board constituted to work out measures for accessing the financial market for raising funds.

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