Representational Image | Photo: Mathrubhumi
Palakkad: The Kochi-Bengaluru Industrial Corridor is preparing to become the hub of the development that the state is dreaming of in the industrial sector. The biggest industrial areas will be developed in Ernakulam and Palakkad as the land that is to be acquired for the project has been increased to 2,185 acres.
A total of Rs 2,608 crore is being spent through KIIFB on land acquisition and infrastructure development. The industries department is planning to complete the distribution of the amount by 2030.
Land for setting up industrial enterprises has been identified at Ayyampuzha in Ernakulam and Kannambra, Puthussery-1, Puthussery-2 and Puthussery-3 villages in Palakkad. The compensation for landowners and industrial development has been arranged to extend from the financial year 2021-22 to 2029-30.
Of the Rs 2,608 crore earmarked for the project through KIIFB, Rs 1238.41 crore has been distributed so far.
The Kerala Industrial Corridor Development Corporation (KICDC) is responsible for attracting industrialists to the corridor. The company was formed under the leadership of the National Industrial Corridor Development Corporation (NICDC) and Kerala Industrial Infrastructure Development Corporation (Kinfra).
Half of the company’s shares are owned by the state and the other half by NICDC, the Union Ministry of Commerce and Industry and the central government. The shares will be available for the state by acquiring the land and handing it over to KICDC for free.
The infrastructure development in Kannambra and Puthussery will be done by the Palakkad Industries Construction Cluster and in Ayyampuzha, this will be done by the Kerala Global Industrial Finance and Trade City.
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