Date:04/02/2005 URL: http://www.thehindubusinessline.com/2005/02/04/stories/2005020400871700.htm

Back Rs 30,000-cr investments to materialise this year: Oommen Chandy

Our Bureau

Thiruvananthapuram , Feb. 3

THE State Government expected to see investments worth Rs 30,000 crore materialising in the State during this year, according to the Chief Minister, Mr Oommen Chandy.

Taking the floor of the State Assembly, the Chief Minister said during question hour that investment proposals aggregating an estimated Rs 49,000 crore were under various stages of implementation. Of this, Rs 30,000 crore worth schemes were expected to happen on the ground during this year, he clarified.

These projects were among those originally proposed in the Global Investors Meet (GIM) held two years ago in Kochi.

Railway zone: Despite the none-too-encouraging signals received from the Centre, the State has not given up its claim to an exclusive railway zone within its geographical limits, the Chief Minister said.

This demand would again find a place in the State Government's proposals to be submitted to the Centre ahead of the next Railway Budget, Mr Chandy told the House.

The State Government had put in place a fast-track mechanism for acquisition of land for railway development in the State. The ongoing projects required acquisition of 307.6 hectares of land. Of this, 154 hectares had already been acquired.

100 new buses from KSRTC: The Transport Minister, Mr N. Sakthan, informed the House that the Kerala State Road Transport Corporation would soon launch 100 new buses to be deployed in town-to-town services mostly in the northern districts.

Replying to questions, he said the public utility also proposed to operate mini bus services along new routes. A number of steps are being introduced to bring down the losses being incurred by the corporation.

Fare hike: Frequent upward revision in fuel prices and spare parts has been neutralising some of the incremental revenues being earned. According to the Minister, a hike of every rupee per litre of diesel would entail an additional expenditure of Rs 1 crore a month. The corporation is left with no option but to revise upwards the fares in the short term.