Kerala forms NRK investment firm
The company will be known as NRK Investment and Holding Company Limited.
THIRUVANANTHPAURAM: The Cabinet on Wednesday decided to form an NRK investment company with 74 per cent stake of non-resident Keralites and 26 per cent government stake.
The company will be known as NRK Investment and Holding Company Limited. This was one of the major recommendations of the Loka Kerala Sabha.
The main objective of the company is to plan and implement various schemes utilizing NRK investments. For this purpose, a separate subsidiary or a subsidiary company would be formed under the holding company. Projects in areas of NRI townships, infrastructure and development will be implemented.
The Norka Roots chief executive officer will be appointed as the company's special officer.
The government will be in constant touch with the diaspora, especially businessmen, and facilitate their investments in schemes through a single window channel.
The Indian diaspora comes to about 24 lakh mainly in Gulf countries. The projects planned under ‘Rebuild Kerala’ initiative will also be a priority for the new company.