KSIDC Hands over Rs 1.75Cr to State Govt. as Dividend

THIRUVANANTHAPURAM:
Kerala State Industrial Development Corporation (KSIDC) handed over a cheque for Rs 1.75 crore to the State Government as its profit share for the financial year 2014-15.
KSIDC Managing Director Dr M. Beena handed over the cheque to Minister for Industries E P Jayarajan, in his chamber in the presence of P H Kurian, Principal Secretary (Industries).
KSIDC is one of the top ranking PSUs making profits consistently for the last 22 years. In the financial year 2014-15, KSIDC made a profit of Rs 33.66 cr. In 2014-15, KSIDC sanctioned projects involving a capital investment of Rs. 108.77 cr as direct term loan assistance.
These projects are expected to generate employment for 1822 persons directly or indirectly. The
Corporation also registered Rs. 43.19 crs disbursement and recovery of Rs 92.90 crs for the period 2014-2015. The income for the year stood at Rs. 50.24 crs.
The average amount outstanding against the loans financed by KSIDC as on 31-03- 2015 is Rs. 372.76 crs against which the interest received totals to Rs. 35.55 crs yielding a average return of 9.54 %
KSIDC, besides being the single point contact for all investments into the State, has a range of diverse activities including project appraisals, innovative funding, enabling speedy clearances, entrepreneur support schemes for women & Young entrepreneurs, entrepreneur mentoring, creating infrastructural facilities, promoting the state within and outside India etc.
Other initiatives include developing basic facilities at Industrial Growth Centres, development of Life Sciences Park, Petrochemical Park, Light Engineering Industrial Park, Electronic Park, Business Incubation Centres, Enabling Women and Young entrepreneurship activities etc.
2015-16 saw KSIDC, as the highest profit making PSU under the Industries Department, making a record profit of Rs. 49.98 cr.