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 2013-14. For the past eight years, KSIDC has been consistently paying out dividend to the State Government.
Dr. M Beena IAS, Managing Director, KSIDC handed over the cheque to the Minister for Industries & IT, Shri P K Kunhalikutty, at a function held in his chamber at the Secretariat in Thiruvananthapuram.
In the financial year 2013-14, KSIDC sanctioned projects involving a capital investment of Rs. 152.38 crores with direct term loan assistance of Rs. 54 crores and share capital assistance of Rs. 18.37 crores. The new projects are expected to generate employment for 1,000 persons directly or in-directly. The Corporation has also registered Rs. 60 crores in disbursement and a record of Rs. 101 crores in recovery for the year 2013-14. The income has come to Rs. 53.48 crores during 2013-14 and the profit was Rs. 30.49 crores.
The average amount outstanding against the loans financed by KSIDC as on March 31, 2014 is Rs. 409.72 crores against which the interest received totals to Rs. 38.73 crores yielding a average return of 9.45%
KSIDC has diversified its activities to creating infrastructural facilities for various industries in the state. Besides development of basic facilities at Industrial Growth Centres, KSIDC is actively involved in the development of Life Sciences Park, Business Incubation Centres, Light Engineering Industrial Park, Electronic hubs, Women’s entrepreneurial and Youth’s entrepreneurship activities.
P H Kurian, Principal Secretary – Industries & IT; B Jyothikumar, Executive Director, KSIDC; and G Unnikrishnan, DGM were among those present on the occasion.
Kerala Biz News