29 September Friday

KIFCON getting ready under KIIFBI

Web Desk‌Updated: Wednesday Jul 27, 2022

Thiruvananthapuram : The Kerala state cabinet has approved the proposal of the Kerala Infrastructure Improvement Fund Board (KIIFB) to start a company named KIFCON Private Limited. The company will provide consultancy for infrastructure development projects and related technology in various projects funded by KIIFBI.

It will provide engineering designing services, project development services including feasibility studies, environmental and social impact studies, DPR support services and other ancillary services.  KIFCON will be a private limited company with an authorized capital of one crore. Initially 100 percent stake will be held by KIIFBI and then subject to the decision of the board of directors, a maximum of 51 percent stake will be allotted to reputed companies through disinvestment. Functional directors will be appointed by the government for a term of not less than five years.