COCHIN OVERSEAS FUND SOCIETY

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WELCOME TO THE COCHIN OVERSEAS

Our goal is to bring awareness of the infrastructure shortages that the city of Cochin is facing and the need for private capital along with state funds or PPP(Public Private Participation) in financing these projects.

COCHIN OVERSEAS FUND SOCIETY

Cochin is a major destination for IT and ITES companies, ranked by NASSCOM as the second-most attractive city in India for IT-based services.Availability of cheap bandwidth through undersea cables and lower operational costs compared to other major cities in India, has been to its advantage. Various technology and industrial campuses including the government promoted Cochin Special Economic Zone operate in the outskirts of the city. Several new industrial campuses for research, trade and development in biotechnology, electronic hardware and information technology are in various stages of construction in the suburbs of the city. SmartCity,which on completion, would rank among the largest such ventures in the country. The Cochin International Airport a novel venture in the history of civil aviation in India where Government of Kerala, NRIs, Travelling Public, Financial Institutions, Airport Service Providers and others joined hands in the equity structure.Our goal is to get NRI's more involved in Cochin its growth and infrastructure development.The CIAL(Cochin International Airport Limited) is a success story that is being copied by other cities in India and being studied by Sociology and Economic professors in Harvard University in the United States.There is a URGENT!!! need to create some more Public Limited Companies with private capital and participation to take care of the infrastructure problems that the city of Cochin is facing.CIAL like pubic limited companies must be created to raise private capital for infrastructure in and around the city of Cochin.These companies should be started as wholly owned subsidiaries of CIAL or as a joint venture between Cochin Corporation and CIAL.
A online community for all Cochin enthusiasts to raise funds for its growth and infrastructure development.The CIAL is a result of initiative taken by Overseas Indians who contributed donations and interest free loans for a Cochin International Airport Society. Our goal is to raise money for the creation of CIAL Companies to address other critical infrastructure needs and shortages the City of Cochin is facing.


A map of COCHIN Metro and its proposed stops going from Alwaye to Pettah in Tripunthara

A map of COCHIN Metro and its proposed stops going from Alwaye to Pettah in Tripunthara
There will be a station after each kilometer.Aluva, Pulinchode, Companypady, Ambattukavu, Muttom, Apollo Tyres, St.Mary's Church, Kalamassery, Pathady palam, Edappally Toll Junction, Edappally, Palarivattom, International stadium, Kaloor, Lissie Junction, Madhava Pharmacy, Maharaja's Ground, Ernakulam South junction, GCDA Junction, Fathima Church, Elumkulam, Vyttilla, Thykoodam, Poonithura and Pettah. The proposed speed for Cochin metro train is 36 Km per hour, which is almost equal to the city buses which have a limit of 35 km per hour.The Cochin metro will be expanded in the future adding places like Kakkanad,Fort Cochin,Vypeen,Cherai Beach,North Parur,Angamaly including the COCHIN AIRPORT AREA OR AEROTROPOLIS.

COCHIN OVERSEAS FUND SOCIETY

This is a blog devoted to Cochin, Kerala, India. Cochin also known as Kochi is one of the fastest growing cities not only in India but in Asia. The city is in danger of having severe shortage in meeting its Infrastructure needs. There is a need for getting contributions from NRI'S for funding and financing infrastructure projects in and around Cochin using the PPP equity structure which was successly implmented in the creation and the execution of CIAL(The Cochin International Airport Limited)

Tuesday, June 10, 2008

Corporation of Cochin go in for credit rating to raise funds from the public in implementing its infrastructure projects by tapping markets


Photo Inspire India Urban and Regional Projects
Kerala - Kochi

Civic body told to go in for credit rating



Staff Reporter



In a bid to raise funds by tapping markets





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Kochi Corporation has a triple B Minus rating

‘Rating can be improved with reforms’


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KOCHI: The Corporation of Cochin which is facing a severe fund crunch in implementing its infrastructure projects could soon take the credit rating route to raise funds from the public.

Union Urban Development Secretary M. Ramachandran said here on Monday that Kochi, which is now ranked somewhere in the middle category in credit rating with a triple B Minus rating, could improve its standing with performance on the reforms front. This can lead to a stage at which the Corporation would be able to go to the market to raise funds for its projects. The Kozhikode Corporation had raised money by issuing bonds way back in 1969, pointed out Mr. Ramachandran.

If Kozhikode could do it in 1969, Kochi can do it now, he said as he pointed to more recent examples of urban bodies in several parts of the country tapping the market to raise funds for their projects using their rating. The official said that the Union Urban Development Ministry had started preparations for a meeting of the Prime Minister with Chief Ministers later this year on issues related urbanisation.

The meeting would address concerns of various States and review of Jawaharlal Nehru National Urban Renewal Mission (JNNURM), said the official.

He said that issues such as cost escalation, a major problem facing projects that have reached the implementation stage, would be addressed. The JNNURM programme had been envisaged to ensure participation from the local bodies and the State governments, said Mr. Ramachandran. He pointed out that had it not been for the JNNURM, several new projects would not have taken shape.

Mr. Ramachandran was speaking to reporters after he addressed a special meeting of the Kochi Corporation Council on the role of local bodies in implementing JNNURM. During the interaction, councillors raised the issue of escalating costs, problems related to land acquisition, etc. which were hurdles to implementing some of the JNNURM projects.
The Hindu

Posted by Abe at 5:03 AM

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