The State Cabinet on Wednesday approved a KIFFB proposal to form a new global consultancy under its aegis.
The private limited firm is named KIFFCON.
It will advise, for a fee, Indian and foreign entities involved in infrastructure development schemes.
KIFFCON’s sphere would encompass transportation, construction, architecture, social impact surveys for mega projects, energy, detailed project report preparation, urban planning, and coastal and harbour engineering.
KIFFCON will bring an array of consultancies under one umbrella. It will have an initial business capital of ₹1 crore. KIFFB will hold 100% shares of KIFFCON. It will later divest 51% of the shares to reputed companies. The State government will appoint KIFFCON’s functional directors for five years.
