KSIIC outlines plans; Govt may earn Rs 250 cr per annum

Our Bureau

MangaloreFeb. 13Development of several infrastructure projects near the proposed Bangalore International Airport at Devanahalli and in many other minor airports in Karnataka; development of information technology (IT) complexes; and joint ventures with other agencies in development projects are on the agenda of the Karnataka State Industrial Investment and Development Corporation (KSIIDC).

Listing out the plans of the corporation at a press conference here on Monday, Mr N. Yogish Bhat, Chairman of KSIIDC, said the corporation holds 13 per cent of the equity share capital of Bangalore International Airport Ltd (BIAL) on behalf of the Karnataka Government. KSIIDC, which has retained around 400 acres on the northern side of the airport as per the direction of the Karnataka Government, is planning to use the land for establishing facilities that would be complementary to the development of airport region.

The matter has been discussed with the Deputy Chief Minister and Finance Minister, Mr B.S. Yediyurappa, and the Industries Minister, Mr Katta Subrahmanya Naidu, and will be placed before the State Cabinet soon.

Stating that KSIIDC has developed several packages for the development of the land, Mr Bhat said the Government could earn around Rs 250 crore per annum, if these proposed packages are implemented there.

MINOR AIRPORTS

The Karnataka Government is planning to develop minor airports at Hassan, Gulbarga, Shimoga, Bellary, Raichur, Bijapur, Karwar and Bidar. Stating that KSIIDC has been playing an active role in this matter, he said techno-economic feasibility report has been prepared for Shimoga and Gulbarga airports through consultants. Action is being taken to prepare such reports for other places.

He said KSIIDC is considering the proposals for developing 14 acres of land owned by the Karnataka Agro Industries Corporation at Hebbal as a modern IT complex. It is also considering the development of around 30 acres of land in the premises of Beggars' colony on Magadi Road as IT and multi-functional complex.

JOINT VENTURES

The corporation is also considering joint ventures with other Government infrastructure projects, including Bangalore Mahanagara Palike (BMP). It is joining hands with BMP for constructing `Palika Tower' a modern office complex within the premises of the Bangalore City Corporation.

A joint venture company is being incorporated with IL&FS to take up development of infrastructure projects under the Project Development and Promotion Partnership (PDPP) model. KSIIDC and IL&FS will have 50:50 partnership in this venture, he said.

Stating that Karnataka is one of the contenders for locating a PCPIR (petroleum, chemicals, and petrochemicals investment region) in the country, Mr Bhat said the Karnataka Government is taking all steps to project Mangalore as one of the prospective PCPIRs in the country. KSIIDC has taken steps to appoint a technical consultant to prepare pre-feasibility report for applying to the Union Government in this regard.

(This article was published in the Business Line print edition dated February 14, 2007)
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