The Hindu : Business : Infrastructures Kerala gets good response

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Friday, Oct 05, 2007
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Infrastructures Kerala gets good response

Staff Reporter

KOCHI: Infrastructures Kerala Limited (InKel), registered early this year as a joint venture infrastructure company between the State government and Non-Resident Keralites, has received good response, garnering Rs. 78 crore already, said Industries Minister Elamaram Karim here recently.

The company, based on the Cochin International Airport Limited model, will have an initial capital base of Rs. 100 crore, with retail investors holding up to 52 per cent. Investors’ share in capital formation so far is Rs. 6 crore, said Mr. Karim.

The remaining capital for the company will come from institutional investors NRKs with and high net worth. Offers have come from banks and financial institutions too, said the Minister. InKel has been formed to develop industrial infrastructure in the State. The company is learnt to have identified several projects already.

Oil off Kochi coast

Mr. Karim said that the Government of Kerala had written to the Union Petroleum Ministry to revive exploration of Kochi High for possible oil and natural gas reserves.

The Oil and Natural Gas Corporation had, two years ago, carried out preliminary exploration off the Kochi-Konkan coast. The explorative activities had since been suspended.

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