The Indian state of Kerala has unveiled plans to invest Rs51bn ($1bn) to develop and reconstruct 1,000km of state highways and major district roads.

The Kerala Government will from a special purpose company to carry out the road projects, which the state government will hold 51% stake in. The remaining will be owned by Kerala Road Fund Board (KRFB).

The KRFB will mobilise, deploy, and manage funds on the government’s behalf to facilitate development of logistical infrastructure, according to thehindubusinessline.com.

About Rs10bn ($203m) has been allocated for land acquisition under the programme while Rs20bn ($407m) will be raised in loans from Asian Development Bank (ADB) and other financial institutions.