Infrastructure Kerala Ltd may double paid up capital

March 11th, 2008 - 2:38 pm ICT by admin  

Thiruvananthapuram, March 11(IANS) The board of directors of Infrastructure Kerala Ltd (InKel), a new infrastructure company that has been formed under public-private partnership, is likely to double its paid up capital from Rs.1 billion to Rs.2 billion. Chief of InKel C.G. Gopala Pillai told IANS that this would come up in the next full board meeting of InKel to take place here next Monday.

“It would help more and more individuals especially non-resident Keralites (NRKs, who live outside India) to invest in Kerala through us. There are many NRKs who have taken shares in the company,” said Pillai.

InKel is different from the state-owned Kerala State Industrial Infrastructure Ltd and Kerala State Industrial Development Corp.

The Kerala government currently hold 26 percent stake in InKel.

InKel has already identified locations in capital Thiruvananthapuram, Kochi and other places, where it would set up basic infrastructure for investors interested in starting sunrise industries.

“In the meeting I will be presenting a few business proposals for consideration, which would help us to go forward with our plans,” said Pillai.

In the board are five leading NRK businessmen including M.A. Yusuf Ali (UAE), Galfar Mohammed Ali (Oman), C.K. Menon (Doha), Varghese Kurian (Kuwait) and C.M. Rappai (Doha). There are four government nominees.

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