Kerala government to invest in road projects

Indian state of Kerala has unveiled plans to invest Rs 51 billion ($1 billion) in road development project.The project involves the reconstruction and development 1,000-km length state highways and major district roads to international standards. About Rs 10 billion ($ 203 million) has been allocated for land acquisition under the programme and Rs 20 billion ($407 million) will be raised as long-term assistance from Asian Development Bank and other financial institutions.The state government is planning to form a company to carry out the road projects with the government holding 51% stake in the company and the remaining will be held by the Kerala Road Fund Board .