Vizhinjam International Seaport (file) | Photo credit: NIRMAL HARINDRAN
The Kerala Infrastructure Investment Fund Board (KIIFB) has approved a proposal to create a special purpose vehicle (SPV) under it for implementation of the Vizhinjam-Kollam-Punalur Industrial and Economic Growth Triangle Project, Finance Minister KN Balagopal said.
With KIIFB approving the formation of the SPV, steps have been taken to secure the approval of the State Cabinet so that it can be registered, Mr. Balagopal said while addressing a press conference in connection with the 25th anniversary celebrations of KIIFB here on Monday (October 27, 2025).
The Growth Triangle Project, approved by KIIFB in November 2024 and also announced in the State Budget 2025-2026, is aimed at harnessing the benefits of the Vizhinjam International Seaport for the rest of Kerala, Mr. Balagopal said.
It is expected to boost industry in southern Kerala and also connect coastal areas, central Kerala and high mountain ranges through major road and railway arteries. Studies and steps to identify the required land have begun, he said.
Silver Jubilee Celebrations
Chief Minister Pinarayi Vijayan will inaugurate KIIFB’s silver jubilee celebrations at the Nishagandhi Auditorium in Thiruvananthapuram on November 4. KIIFB CEO KM Abraham will present a paper on ‘Nava Kerala Vision and KIIFB’ on this occasion. Mr. Balagopal will chair the meeting, which will begin at 6 p.m
Mr. Balagopal said KIIFB has emerged as a “trusted government instrument” for ushering in change and development.
KIIFB came into existence on November 11, 1999 and took its current form with an amendment to the law in 2016. KIIFB has so far approved 1,190 projects worth ₹90,562 crore. It has spent ₹37,388 crore so far. Projects worth ₹21,881 crore have been completed and projects worth ₹27,273 crore are in progress. The Public Works Department is responsible for the largest number of projects – 516 projects with a total value of ₹34,330 crore, he said.
Eliminates concerns about loan payments
Mr Balagopal said there is no cause for concern over loan repayments to KIIFB as it follows “a well-planned and robust asset-liability management system”.
Mr Balagopal said he did not see a scenario in which refunds would be affected.
He also reiterated the government’s plans to have more income generating schemes under KIIFB in the future.
Mr Abraham and additional CEO Mini Antony were also present.
Published – Oct 27, 2025 3:57 PM IST
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