Latest news with #KIIFCON
Time of India
23-06-2025
- Business
- Time of India
Govt ensures multi-channel fund flow
T'puram: The state govt has finalised a multi-channel fund flow mechanism for the Wayanad Model Township project, outlining how various financial sources will be routed and spent. The project, planned at Elstone Estate in Wayanad, is being developed as a post-disaster rehabilitation initiative using funds from the chief minister's distress relief fund (CMDRF), corporate donations, sponsorships, and central assistance schemes. A proposal for support from the National Disaster Response Fund (NDRF) is still pending with the Centre. The govt order, issued by the disaster management department, clarifies that funds will be withdrawn strictly based on requirement and in accordance with financial rules, with no provision for unnecessary parking of money in bank accounts. KIIFCON, the state's infrastructure consultancy, has been appointed as the project management consultant and employer representative, while the engineering and construction work has been assigned to Uralungal Labour Contract Cooperative Society (ULCCS). CSR funds, currently exceeding Rs 5cr, are earmarked for housing, with each unit tagged at Rs 20 lakh for accounting purposes, though actual costs may vary. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like CUPRA Terramar Híbrido CUPRA Ver oferta Undo Separate accounts will be maintained for CSR transactions for compliance purposes. CMDRF will fund housing, land development and utility work not covered under SASCI. Existing sponsorships are also directed exclusively to housing construction. The sponsorship account is kept separate for receiving and debiting funds, with a view to maintain straightforward tracking of all related expenses. Meanwhile, the state awaits approval from the ministry of home affairs for the release of funds from the NDRF based on the post-disaster needs assessment (PDNA) report. Funding for components like housing and public infrastructure, if not already covered under SASCI, will be routed through either the state disaster management authority or directly to implementing departments, based on decisions by the state executive committee. The govt has directed that fund withdrawal across all accounts must be strictly aligned with project needs, and any deviation from approved rules will not be allowed. The framework, though complex, is intended to provide financial clarity and traceability in the implementation of the multi-crore township initiative. INFO Three dedicated accounts To ensure clean accounting, 3 separate bank accounts have been designated Sponsorships and CSR funds will be received in a dedicated account managed by KIIFCON These funds are meant solely for housing and are to be spent directly from the same account The project implementation account will be used to route CMDRF, CSR and other state and central govt funds and to meet general project expenses A third account will handle funds under the special assistance for state capital investment (SASCI) scheme This will be operated as a child account under the disaster management department's single nodal agency account in the public financial management system Departments like PWD, KWA, irrigation and KSEB will operate similar child accounts to carry out specific infra works The special officer appointed for the township will also operate a child account
Time of India
15-05-2025
- Business
- Time of India
Cabinet clears 351cr for Wayanad township plan
Thiruvananthapuram: The state cabinet on Wednesday granted administrative sanction for Rs 351 crore for the Wayanad township programme. Work on the project will commence once KIIFCON, a subsidiary of KIIFB, issues technical clearance. The cabinet also gave conditional approval for appointing Mumbai-based STUP Consultants Ltd to prepare the detailed project report for the proposed Sabarimala greenfield international airport. The consultancy fee, fixed by KSIDC, is Rs 4.366 crore. A committee led by the chief secretary has been tasked with resolving implementation hurdles for the airport project. The cabinet approved covering the medical expenses of renowned sculptor Kanayi Kunhiraman, who is undergoing treatment in a private hospital. The funds will be released from the chief minister's distress relief fund (CMDRF). Approval was also given to a Rs 57.56 crore project under the PM JANMAN scheme for electrifying 261 tribal houses across 22 tribal settlements in the state. In addition, projects worth Rs 2.76 crore for electrifying 84 more houses will be submitted to the govt. The cabinet cleared the Asian Development Bank-funded 24x7 drinking water project to be implemented by the Kochi Municipal Corporation under the Kerala Urban Water Supply Improvement Project. A consultancy contract for the loan implementation support unit will be signed for Rs 299 crore.
Time of India
15-05-2025
- Politics
- Time of India
Kerala cabinet sanctions Rs 351 cr for Wayanad Township project
Wayanad township project for the rehabilitation of the survivors of the massive landslides in the hill district last year which claimed over 200 lives. The cabinet chaired by Chief Minister Pinarayi Vijayan granted administrative sanction for the amount, which also includes the initial cost of the project, subject to the technical approval to be given by KIIFCON, a subsidiary of the Kerala Infrastructure Investment Fund Board (KIIFB), a statement by his office said. The cabinet also validated the amount of Rs 17 crore deposited in the Kerala High Court in connection with a case filed by Elstone Tea Estate Ltd seeking enhanced compensation for the land acquired from them for the township project, the statement said. It further said that the cabinet also decided to allocate Rs 20 crore to the Wayanad Township Special Officer, from the CM's relief fund, for payment of advance amount to the Uralungal Labour Contract Co-operative Society (ULCCS) after signing the engineering, procurement and construction (EPC) contract with it. 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Khai thác toàn bộ năng lượng mặt trời năm 2025 — Lắp đặt, bảo trì và nâng cấp hệ thống Tấm Pin Mặt Trời | Quảng Cáo Tìm Kiếm Tìm hiểu thêm Undo The township project was necessitated after a major landslide struck the Mundakkai and Chooralmala regions of Wayanad on July 30 last year, almost completely decimating both areas. The disaster left hundreds injured, claimed over 200 lives, and 32 persons remain missing. Live Events Vijayan recently assured the timely completion of the township construction, which commenced on April 12. The work began a day after the Kerala High Court paved the way for the state government to take possession of the Elstone Estate land, meant for the project, after depositing an additional Rs 17.77 crore. The cabinet also approved the decision of the Kerala State Industrial Development Corporation (KSIDC) to appoint STUP Consultants Private Limited, Navi Mumbai, as a consultant for the preparation of the detailed project report and related works for the Sabarimala Greenfield International Airport project with a consultancy fee of Rs 4.366 crore, the statement said. It also said that the cabinet ordered the formation of a committee under the chairmanship of the Chief Secretary to resolve issues related to the progress of the airport project. The cabinet also approved the detailed project documents submitted by the Kerala State Electricity Board in connection with the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) scheme. The documents relate to electrification of 261 houses of tribals belonging to the Particularly Vulnerable Tribal Group (PVTG) in 22 partially electrified tribal areas of the state, the statement said.
