The government was hoping that projects worth at least Rs 2,000 crore will be mobilized during the 'Partner Kerala meet', being organized on the lines of 'Emerging Kerala' meet, state's Urban Affairs Minister Manjalamkuzhi Ali said. (Agencies)
This is an attempt to mobilize resources for cash strapped corporations that are unable to keep pace with the rising demand for amenities in rapidly expanding here, he said, adding, road shows would be held in various cities.
Kerala has already shown the way to other states in resource allocation and strengthening local self governments through decentralized planning. However, the biggest challenge facing local governing bodies today is the lack of funds to upgrade and modernize infrastructure, he said.
Potential investors from India, abroad and from the state who are willing to join hands with the government on setting up basic infrastructure in major cities are likely to participate in the meet which will showcase investment opportunities in waste management, sewerage, flyovers, bridges and parking lots, bus terminals, comfort stations, markets among others.
The city corporations are forced to depend on financial support from the government for their day to day operations. Nearly half of them depend on state funding to pay salaries and pensions to employees which means there is a big struggle to raise resources for up gradation and modernization of infrastructure, the Minister said.
Among the major projects identified are Thrissur Corporation's Rs 700 crore development of Sakthan Nagar, Calicut Development Authority's Palayam Area Re-Development (Rs 865 crore), Greater Cochin Development Authority's Shopping malls at Manapattiparabu (Rs 182 crore) and Ambedkar stadium (Rs 126 crore) and Sabarimala Edathavalam transit yard at Pathnamthitta (Rs 17 crore).
Kochi Corporation is showcasing 5 projects, including a City Trade centre, IT hub and commercial complex, Kochi Mayor Tony Chammany said.
The government was hoping that projects worth at least Rs 2,000 crore will be mobilized during the 'Partner Kerala meet', being organized on the lines of 'Emerging Kerala' meet, state's Urban Affairs Minister Manjalamkuzhi Ali said.