CapEx News

Project News,Updates,Bids & Tenders for Consultants,EPC Contactors,Industrial Suppliers & Service Providers

Home   »   CapEx-News   »  

Kerala government presents special package for outer ring road project

Infrastructure  -  Aug 09,2024  - 

The state government has unveiled a substantial Rs 1,629 crore special package to advance the construction of the Vizhinjam to Navaikulam Outer Ring Road (ORR) in the state capital. This initiative is part of the Capital Region Development Programme II (CRDP) and is vital for the forthcoming Vizhinjam port project, designed to streamline transportation to and from the port. The project aims to significantly enhance regional infrastructure, support economic growth, and improve connectivity in the area.

Public Works Department (PWD) Minister P.A. Mohammad Riyas announced that the package includes Rs 930.41 crore allocated for land acquisition, which the state will cover through the Kerala Infrastructure Investment Fund Board (KIIFB). Additionally, Rs 477.33 crore will be used for constructing service roads over the next five years. The state government will also waive Rs 210.63 crore in Goods and Services Tax (GST) and Rs 10.87 crore in royalty fees, further supporting the project's financial feasibility and expediting its completion. This comprehensive financial support underscores the state's commitment to advancing infrastructure and boosting regional development.

Company : Kerala Infrastructure Investment Fund Board (KIIFB)