KSIDC hands over Rs 1.75 crore to Kerala Govt

Tuesday, Jul 7, 2015,18:46 IST By metrovaartha A A A

Thiruvananthapuram | Kerala State Industrial Development Corporation (KSIDC) has handed over a cheque for Rs 1.75 crore to the State Government as its profit share for the financial year 2013-14.
KSIDC Managing Director Dr M Beena handed over the cheque to Industries Minister P K Kunhalikutty, an official press release said today.
For the past eight years, KSIDC has been consistently paying out dividend to the State. In the financial year 2013-14, KSIDC sanctioned projects involving a capital investment of Rs 152.38 crore with direct term loan assistance of Rs 54 crore and share capital assistance of 18.37 crore.
The new project are expected to generate employment for 1000 persons directly or in directly. The Corporation has also registered Rs 60 crore in disbursement and a record of Rs 101 crore in recovery for the year 2013-14.
The income has come to Rs. 53.48 crore during 2013-14. And the profit was Rs 30.49 crore.
The average amount outstanding against the loans financed by KSIDC as on March 31, 2014 is Rs 409.72 crore against which the interest received totals to Rs 38.73 crore yielding a average return of 9.45 per cent.
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, Womens entrepreneurial and Youths entrepreneurship activities.