Kerala Infrastructure Investment Fund Board okays Rs 241 crore Cusat expansion plans

KOCHI: The quest of Cochin University of Science and Technology (Cusat) has got a major fillip with the director board of Kerala Infrastructure Investment Fund Board (KIIFB) approving its Centre of Excellence project worth Rs 241 crore. The director board at its meeting held on Thursday gave clearance to the project, the only one proposed by any university in the state. The project aims at making Cusat a Centre of Excellence in both academics and research.

Last month Cusat had uploaded the detailed project report (DPR) of the Centre of Excellence project on the website of KIIFB for the approval of its 15-member board. As per the DPR, a sum of '99 crore is earmarked for construction works while Rs 142 crore is for setting up a most-modern lab for research purpose.

RBDCK has been identified as the special purpose vehicle (SPV) for the construction works of the project. RBDCK is tying up with KITCO for the implementation of the project while for the lab part Cusat itself is the SPV.  Cusat vice-chancellor Dr J. Letha told DC on Thursday that with the approval of the director board of KIIFB, decks have been cleared for floating tenders for various parts of the project which will be done soon.