Following on the lines of ULCCS, the Kerala govt has given nod to the formation of NRI Cooperative Society, which would be engaged in the business of construction.
To be registered under Kerala Co-op Act, the co-op society would aim to make midsize buildings, roads and such other structures.
According to sources it is the success of ULCCS, headquartered in Kozhikode (Kerala) that has motivated the state govt to come up with an alternative coop society.
But whether this new cooperative also develops as rival to ULCCS or not is yet to be known. ULCCS has advantage over private players in winning contracts because of its cooperative structure.
