Cabinet approves development of 12 islands in coastal Karnataka as tourism destinations on PPP model

The Cabinet on Friday approved the development of as many as 12 islands, including a few river islands (Kudru) in coastal Karnataka to develop coastal Karnataka into a world-class tourist destination.

Briefing reporters about the meeting here, Deputy Chief Minister G. Parameshwara said the projects would be executed on a public-private partnership (PPP) model through a Design-Build-Finance-Transfer (DBFOT) mode. The lease period would be set at 30 months for statutory approvals and then 30 years including the construction period.

The projects were expected to generate revenue throughout the lease term with a minimum revenue share of 2% and an annual lease fee besides offering employment to local people.