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Monday, Jul 18, 2005
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Loan for Kochi civic body

Our Bureau

KOCHI: The Kochi Corporation Council has accorded sanction to the civic body to avail a loan of Rs 12 crore from HUDCO for setting up a solid waste treatment plant at Brahmapuram.

The civic body requires Rs 26.99 crore for setting up the plant. A sum or Rs 7.36 crore is needed for buying land and Rs 19 crore for setting up the plant.

The Kaloor Bus stand owned by the Corporation will serve as a collateral security. The proposed 15-year loan comes with a floating interest rate of 8.25 per cent.

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