Industrial corridor in Kochi to create lakhs of job opportunities, tens of thousands of crores in investment

KOCHI: A major industrial project is set to transform Kochi, with investments expected to reach tens of thousands of crores of rupees and the creation of over one lakh jobs in Kerala. The state government has handed over 220 acres of land to the Kerala Industrial Corridor Development Corporation Limited (KICDC) as its share for the Kochi-Bengaluru Industrial Corridor. This follows an earlier transfer of 105.26 acres, marking significant progress in land acquisition for the project.

The first parcel of land for the corridor was registered in November 2021, and acquisition was swiftly completed by KINFRA, the state’s nodal agency. The state government has spent nearly Rs 1789.92 crore on land acquisition so far. With the required land in hand, state officials, including the Chief Minister and Industries Minister P Rajeev, have held several meetings with Union Ministers to secure central approval. The central approval was received by the end of August 2024. The minister said that a task force was formed the very next day to implement the project quickly.

Central government teams have visited the project site and expressed satisfaction with the state’s efforts. The most recent handover of land to KICDC took place in December. The project is proceeding smoothly, and once completed, it is expected to attract massive investments and generate more than one lakh jobs in Kerala.

The corridor will support industrial enterprises in innovative sectors such as food processing, pharmaceuticals, defense, and aerospace, particularly in Palakkad. These industries will benefit from a streamlined single-window clearance system to simplify procedures.