section 3A
Eligible projects.
The Kerala Infrastructure Investment Fund Act, 1999Infrastructure199934 sections
Statutory text
- (1) Projects eligible for financial assistance from the fund shall be the projects referred to the Board by the Government and approved by the Board.
- (2) Eligible projects shall be of a value exceeding ₹ 100,00,00,000 (Rupees One Hundred Crore) implemented by a public agency: Provided that for the purpose of assessing the value, projects not less than Rupees Ten Crore may be grouped into tranches, each of which has to satisfy the stipulation on the value specified in sub-section (2): Provided further that the Government may, by general or special order, apply the provisions of this Act to any public-private partnership project: Provided also that it shall not apply to any project undertaken by the Central Government or any public undertaking of the Central Government independently, except as a joint venture with the State Government. Explanation:— For the pupose of this sub-section, in the case of a public-section, in the case of a public-private partnership project, 'project value' means, where the private sector participant is,— 1 Substituted by Act 15 of 2016 (w.e.f. 19.08.2016). 2 Inserted by Act 15 of 2016 (w.e.f. 19.08.2016). 3 Inserted by Act 15 of 2016 (w.e.f. 19.08.2016). 4 Inserted by Act 15 of 2016 (w.e.f. 19.08.2016).
- (i) required to make capital investment, the value of the asset or facility to be created including cost of land, if the cost of land is to be borne by the private sector participant; or
- (ii) not required to make capital investment, the current replacement value of the asset or facility, excluding land, whose operation and maintenance shall be the responsibility of the private sector participant.]
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