Overseas Keralites Investment and Holding Ltd. (OKIH) has signed an agreement with the Kerala Infrastructure Investment Fund Board (KIIFB) to assist in the development of ‘RestStop’ wayside amenity centres at 30 locations across the State with a projected investment of ₹1,000 crore.
KIIFB will utilise their domain expertise in project management for the development of the centres within the prescribed time limit and cost.
The agreement was signed in the presence of K.M. Abraham, CEO, KIIFB, between Baju George, MD, OKIH, and S. J. Vijayadas, Chief of Projects, KIIFB. Senior officials of both the organisations were present at the ceremony.
Meanwhile, the OKIH Board meeting held under the chairmanship of Chief Minister Pinarayi Vijayan, decided to start work on RestStop centres at Cherthala and Thalappadi. The authorised capital of the company was increased to ₹45 crore to facilitate rapid development.
