The Hindu Business Line : ICICI-Kinfra to execute projects worth Rs 105 cr

ICICI-Kinfra, a joint venture of ICICI and the Kerala Industrial Infrastructure Development Corporation, has catalysed investments worth Rs 105 crore in various build-operate-transfer (BOT) projects in the State.

The projects have been conceived and structured by ICICI-Kinfra and the developers identified through competitive bidding process.

Besides these, projects with a combined outlay of Rs 45 crore are at various stages of bidding, according to Mr Sarath Chandran, Managing Director, ICICI-Kinfra.

The Dubai-based Holiday Homes will implement the Dream City project, estimated to cost Rs 25 crore, in Kozhikode. The project envisages creation of a nature park on 250 acres of land, comprising a wetland eco-system and recreational facilities such as an amusement park, culture park and a food village.

Another project for which a developer has been identified is the establishment of a modern marina near Bolghatty Palace in Kochi.

The Malaysia-based Trans Resources Corporation will implement the Rs 35-crore project that will provide berthing/anchoring facilities for yachts and other sailing boats carrying tourists.

The marina will also take care of requirements such as water supply, drainage, bunkering and navigational support.

Other facilities proposed include boating and water sports.

These apart, total investments to the tune of Rs 45 crore have been catalysed for three resort development projects at Bekal in Kasaragod district. The Delhi-based Bharat Hotels and Khanna Group of Hotels and Holiday Homes, Dubai, has emerged as the successful bidders for these projects.

ICICI-Kinfra has also put up for bidding a slew of BOT projects at the local body-level in the tourism, transport and social infrastructure sectors.

These include bus stations at Kannur, Kozhikode and Kumbala, a vegetable market at Vatakara and a stadium complex at Tirur.

The bidding process for these projects, worth around Rs 45 crore, would be completed within three months, Mr Chandran said.

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