Trivandrum: Kerala State Industrial Development Corporation (KSIDC) has handed over a cheque for Rs. 1.75 crores to the State Government as its profit share for the financial year 2014-15. Dr. M Beena IAS, Managing Director of KSIDC handed over the cheque to the Minister for Industries, Shri E P Jayarajan.
KSIDC is one of the top ranking PSUs in the State making profits consistently for the last 22 years. In the financial year 2014-15, KSIDC made a profit of Rs 33.66 crores. In 2014-15, KSIDC sanctioned projects involving a capital investment of Rs. 108.77 crores as direct term loan assistance. These projects are expected to generate employment for 1,822 persons directly or indirectly. The Corporation also registered Rs. 43.19 crores disbursement and recovery of Rs. 92.90 crores for the period 2014-2015. The income for the year stood at Rs. 50.24 crores. The average amount outstanding against the loans financed by KSIDC as on 31-03-2015 is Rs. 372.76 crores against which the interest received totals to Rs. 35.55 crores yielding a average return of 9.54 %.
KSIDC, besides being the single point contact for all investments into the State, has a range of diverse activities including project appraisals, innovative funding, enabling speedy clearances, entrepreneur support schemes for women & Young entrepreneurs, entrepreneur mentoring, creating infrastructural facilities, promoting the state within and outside India etc. Other initiatives include developing basic facilities at Industrial Growth Centres, development of Life Sciences Park, Petrochemical Park, Light Engineering Industrial Park, Electronic Park, Business Incubation Centres, Enabling Women and Young entrepreneurship activities etc.
According to a press release, 2015-16 saw KSIDC, as the highest profit making PSU under the Industries Department, making a record profit of Rs. 49.98 crores.
P H Kurian, Principal Secretary (Industries) and G Unnikrishnan, DGM, KSIDC were present on the occasion.
Kerala Biz News