Kozhikode: The Rs 240-crore Karyavattom Sports Facilities Ltd (KSFL) project, the first sports infrastructure facility in the country to be constructed on the design, build, operate and transfer basis, has been accorded ‘stable’ status by the rating agency, India Ratings and Research. The agency has given BBB Plus rating to the project coming up at Karyavattom near the Technopark in Thiruvananthapuram.
KSFL, a special purpose vehicle floated by the IL & FS Transportation Networks Ltd, has bagged a 15-year concession from the National Games Secretariat for constructing and maintaining a multi-purpose green field Stadium. The project is funded by a 70:30 debt equity ratio comprising Rs 168 crore as bank debt, Rs 30 crore as equity and Rs 42 crore as subordinate debt by promoters and group companies.
The facility will have an international cricket-cum-football stadium with 50,000 capacity shopping mall and club facility, an Olympic size swimming pool and avenues for indoor sports such as table tennis, badminton and basketball.
The stadium is expected to be ready by the end of 2014.
