Tamil Nadu - Tirunelveli   

Participate in Sethusamudram project, Port Trust Chairman appeals to LIC

Staff Reporter

`Many institutions are interested in investing in SSCP, but SCL likes to have a strong partner like LIC'

MAKING AN APPEAL: The Mata Jijabai Streeshakti Puraskar Awardee and founder of Kalanjiam self-help group, Chinnapillai, speaking at the golden jubilee celebrations of LIC in Tirunelveli on Thursday.

TIRUNELVELI: The Chairman of the Tuticorin Port Trust and Sethusamudram Corporation Limited, N.K. Raghupathy, has made an appeal to the Life Insurance Corporation Limited to invest in the Sethusamudhram Ship Channel Project, "as it will be a risk-free investment" for the public sector insurance company.

Addressing the golden jubilee week celebrations of LIC here on Thursday, Mr. Raghupathy said several financial institutions had evinced keen interest in investing in the SSCP, but the SCL would like to have a strong partner like LIC, which could invest over Rs.1,500 crores, as it was having assets to the tune of Rs. 4.43 lakh crore.

He said the Tuticorin Port Trust would soon enter into a business agreement with the LIC.

"While the final settlement of claims at the international insurance industry stands between 60 to 70 per cent, the LIC has settled 99.88 per cent of the claims, which is appreciable," he said.

Mr. Raghupathi, an LIC policyholder, appealed to the working force of the insurance company, to work with more vigour, dedication and team spirit to elevate the company to international standards, as it was facing a stiff competition from foreign companies after the world became a `global village,' owing to information technology revolution.

The Mata Jijabai Streeshakti Puraskar Awardee and founder of Kalanjiam self-help group, Chinnapillai, appealed to LIC officials to introduce more flexible and simplified schemes for the benefit of the rural youths aspiring to continue higher education.

Cine playback singer, Binni Kumar, who sang the song `Ra ra...' in Rajnikant's blockbuster `Chandramukhi', the Senior Divisional Manager, LIC, K. Swaminathan, and others participated.

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