OKIH and KIIFCON MOU Signed

OKIH was formed by Government of Kerala as a 100% owned entity to implement certain infrastructure projects in selected verticals in order to promote employment and economic development of Kerala, also avenues of opportunities for Non-Resident Keralities. OKIH is mandate to implement projects under multiple opportunity verticals either directly or through its subsidiary or associate entities. The OKIH has decided to develop several wayside amenities projects along highway of the State brand name “RestStop” with global standards and to be developed through OKIH or its fully owned subsidiary company. Whereas the OKIH has indicated the tentative average construction cost of each of 30 RestStop centers, excluding land cost, to be about Rs. 15 crores; the consultancy fees payable to the Consultant shall be limited to 1% of actual construction excluding cost of fuel station which is to be developed by fuel company or actual cost incurred by Consultant, whichever is lower, disbursed on the following stages.