Belgaum: The Life Insurance Corporation of India (LIC) will construct a building near Goaves on Belgaum-Goa Road to house its Belgaum divisional office.
Thomas Mathew T., Managing Director of LIC, will formally lay the foundation stone for the office to be built at a cost of Rs. 10 crore, at a function here on Sunday.
Senior divisional manager P.P. Upadya said here on Saturday that the divisional office was housed in a partly-owned building at Swaroop Plaza in Tilakwadi. There was no adequate space to cater to the needs of the LIC’s branches in Belgaum, Bagalkot and Bijapur districts. The new building would have four floors of 60,000 sq. ft. space. It would be ready in two years, he said.
He said the Belgaum division of LIC’s South Central Zone was serving 25 lakh policyholders. The division had plans to launch “paperless” office scheme under its Electronic Data Management System (EDMS) project.