Kochi-Bengaluru industrial corridor; land acquisition to be completed by June

Friday 03 March, 2023 | 11:08 PM

THIRUVANANTHAPURAM: The first phase of the Kochi-Bengaluru Industrial Corridor, which is expected to create direct employment for 22,000 people and an investment of Rs 10,000 crore within five years, will be completed in June in Palakkad district. With the implementation of the project, which may provide indirect employment opportunities to 80,000 people, the state has the potential to generate more than ₹ 500 crores in annual tax revenue.

The project will be jointly implemented by Kerala Industrial Corridor Development Corporation (KICDC) and National Industrial Corridor Development and Implementation Trust (NICDIT). More than 2000 acres of land is to be acquired including 1710.45 acres for Palakkad node and 358 acres for Kochi node. KINFRA under the Industries Department is responsible for land acquisition. 1789.91 crore is required for Palakkad land acquisition.

1,152.23 acres (80%) of the required 1,328 acres in Palakkad Kannambra and Pudusherry regions have been acquired. The rest will be acquired within two months. Another 269.37 acres is required for the third phase in Pudusherry. The acquisition work, which started a year ago, is progressing rapidly. Payment for the land is done with KIIFB funds. 840 crore is needed to acquire 358 acres of land in Kochi. Land acquisition will begin as soon as funds from KIIFB are available.

Enterprises

Food processing, pharmaceuticals, medical product units, electrical equipment assembly units, textile industry, mineral industry, rubber-based industry, plastic products, defense and aviation products etc.

"Although the Kochi node was included in the next phase, steps have been taken to allocate funds for its site acquisition. Land acquisition activities can be started soon.'

- P Rajeev Minister of Industries