KINFRA to raise ₹1,000 crore in loans: P. Rajeeve

Kerala government has granted KINFRA permission to independently raise loans up to ₹1,000 crore for land acquisition and infrastructure development, Industries Minister P. Rajeeve has said.

Speaking at the foundation stone-laying ceremony for KINFRA’s new headquarters in Thiruvananthapuram on Wednesday, the Minister explained that while the agency previously relied on financial mechanisms like Kerala Infrastructure Investment Fund Board (KIIFB), the government will now provide a guarantee to facilitate these independent loans. This new financial flexibility will be prioritized for acquiring land for industrial projects associated with the Vizhinjam Port, he said.

Addressing the challenges of industrial expansion, Mr. Rajeeve also noted that while many investors are eager to enter the State, the availability of land remains a hurdle. Significant portions of land held by Central Public Sector Undertakings—such as FACT, HMT, and Hindustan Newsprint—currently lie idle. Mentioning the Palakkad Coach Factory site in Kanjikode, which is increasingly becoming overgrown, he said that such properties be handed over to the State government for more efficient utilization.

The Minister warned the entrepreneurs who have acquired KINFRA land but left it undeveloped for years, that the government would have to take decisive action if projects do not commence promptly. The new KINFRA headquarters is being constructed on 22 cents of land at Edappazhinji, marking a major milestone 33 years after the organization’s inception. The event also featured the exchange of a Memorandum of Understanding for a newly completed IT building at the Kazhakuttam Film and IT Park. Following the 2022 handover of a 200,000-sq.-ft. facility to Tata Elxsi, KINFRA has now delivered an additional 177,000-sq.ft. “plug and play” campus to the company to meet its expanding operational needs.