In a significant boost to the cooperative sector, the Kerala Government has accorded administrative sanction for the release of Rs 50.095 crore as the second installment of financial assistance from the National Cooperative Development Corporation (NCDC) to Uralungal Labour Contract Co-operative Society Ltd.
The funding forms part of a larger project aimed at establishing a modern Quarry and Crusher Unit, with a total project outlay of Rs 73.85 crore. The NCDC had earlier approved Rs 66.46 crore for the project, including Rs 5 crore as share capital and Rs 61.46 crore as term loan.
The first installment of Rs 16.365 crore had already been released, enabling the project to progress. With the sanction of the second installment, Rs 4 crore as share capital and Rs 46.095 crore as term loan, the project is set to gain further momentum.
The government noted that the project has received all necessary approvals and is currently in the ongoing phase. The latest sanction has been made under the plan funds for the financial year 2025–26.
Strict conditions have been laid down for the utilization of funds, mandating adherence to NCDC norms. The government has also prohibited any publicity, inauguration events, or involvement of political functionaries in connection with the fund release.
This move is expected to strengthen infrastructure capabilities of the cooperative and further reinforce Kerala’s commitment to empowering cooperative institutions through strategic financial support.
