The Indian central government has just released a third tranche of ₹300.2 crore for the Palakkad Industrial Smart City, a flagship part of the Kochi‑Bengaluru Industrial Corridor. This brings the total central funding to ₹613.7 crore across three payments.
The money is being handed over to the Kerala Industrial Corridor Development Corporation Ltd. (KICDC). At the same time, Kerala’s state government has transferred 316 acres of land to the corporation, adding to the 330 acres already handed over. In total, the state has donated 646 acres, covering about 45 % of the project’s cost and land needs.
KICDC is a joint venture between Kerala’s KINFRA and the National Industrial Corridor Development and Implementation Trust (NICDIT), with both parties holding equal equity. It is responsible for planning and managing the smart‑city initiative.
A high‑level review meeting in Kochi saw key officials—A.P.M. Mohammed Hanish (Principal Secretary, Kerala Industries), Rajit Saini (MD & CEO, NICDIT), and Santosh Koshi Thomas (MD, KICDC)—alongside representatives from the awarded infrastructure team, Dilip Buildcon–PSP Projects, and the project’s management consultant. The group agreed to sign the project agreement this month and start groundwork immediately, aiming to finish infrastructure ahead of schedule.
Kerala has become the first state among India’s 12 proposed Industrial Smart Cities to complete the tendering process for infrastructure development. Two years ago, the state’s Kerala Infrastructure Investment Fund Board (KIIFB) spent ₹1,489 crore to acquire 1,450 acres for the project.
The latest funding follows a briefing by Kerala’s Industries Minister P. Rajeev to Union Commerce and Industry Minister Piyush Goyal in June 2024. As the Palakkad project moves forward, further central assistance and land transfers are planned to roll out in phases.
Source: ianslive
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