Kochi-Palakkad industrial corridor: Kerala govt grants funds for land acquisition
The fund will be used for the repayment of the loan funded by Kerala Infrastructure Investment Fund Board (KIIFB). Earlier, Kinfra requested the govt to release Rs 200 crore for the 2025-26 financial year for this purpose.
The govt accorded comprehensive administrative sanction for the hi-tech corridor project at Rs 2,608 crore towards the total cost required for the payment of the loan funded by KIIFB for land acquisition.
The order granting sanction of Rs 70 crore states that the latest fund is being released based on certain conditions.
KBIC will cover 2,060 acres in the state, with two nodes: Industrial Manufacturing Cluster (IMC) in Palakkad and Global City (formerly Gift City) in Ayyampuzha, Ernakulam. The cabinet committee on economic affairs, chaired by PM Narendra Modi, approved the development of 12 new industrial corridors, including Palakkad IMC, under National Industrial Corridor Development Programme (NICDP) last year. The proposed Global City, planned to be developed on 350 acres in Ayyampuzha, is awaiting central approval.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
22 minutes ago
- Business Standard
Kartavya Bhavan embodies resolve to fulfil nation's dreams, says PM
Prime Minister Narendra Modi on Wednesday inaugurated Kartavya Bhavan, the first of the ten upcoming Common Central Secretariat buildings to house the bureaucracy. The ambitious project is aimed at bringing ministries and departments under one roof for efficiency. Kartavya Bhavan-03, the first to be inaugurated, will house the Home Affairs, External Affairs, Rural Development, MSME, DoPT, Petroleum & Natural Gas ministries, and the Principal Scientific Adviser's office. Many key ministries currently function from ageing buildings like Shastri Bhawan, Krishi Bhawan, Udyog Bhawan, and Nirman Bhawan, constructed between the 1950s and 1970s, which are now "structurally outdated and inefficient," according to the government. The Union Housing and Urban Affairs (HUA) Ministry has plans to construct ten buildings as part of the Common Central Secretariat under the government's Central Vista redevelopment project. Two under-construction buildings, 2 and 3, are scheduled to be completed by next month, while construction work on CCS 10 will be finished by April next year. The project of CCS buildings 6 and 7 will be completed by October 2026. On Tuesday, Union Housing and Urban Affairs Minister Manohar Lal Khattar said that offices functioning from the four bhawans will shift to four new locations on Kasturba Gandhi Marg, Minto Road, and Netaji Palace temporarily for two years, while the construction is carried out. A few buildings are currently proposed to be retained. These include the National Museum, National Archives, Jawaharlal Nehru Bhawan (External Affairs Ministry), and Dr Ambedkar Auditorium, which are new buildings. Vanijya Bhawan will also be retained. Under the Central Vista redevelopment plan, the government has already constructed a new Parliament building and the Vice President Enclave, and redeveloped the Kartavya Path that spans from Vijay Chowk to India Gate. Besides the Common Central Secretariat, the government will also construct an Executive Enclave that will house a new Prime Minister's Office (PMO), Cabinet Secretariat, India House, and National Security Council Secretariat. Under the second phase of the Executive Enclave, a new Prime Minister's residence will be constructed.
Time of India
26 minutes ago
- Time of India
Greater Noida to Faridabad in just 30 minutes? UP govt reveals plan to cut travel time
Live Events Progress on the project (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Uttar Pradesh government has cleared the development of a second link road connecting Greater Noida and Faridabad via the Manjhawali bridge over the Yamuna, aiming to slash travel time between the two cities to just 30 with only 50% of the 23-km stretch of the Faridabad-Noida-Ghaziabad (FNG) Expressway in Noida complete, commuters are forced to take a longer route through traffic-heavy areas of Delhi and Noida — a journey that can take up to two new four-lane corridor, branching off from the Yamuna Expressway and the Eastern Peripheral Expressway, is set to become a vital link, especially for travellers from Haryana once flights begin from the upcoming Noida airport. It is also expected to ease congestion on the Kalindi Kunj flyover and Noida Expressway — both key connectors between Haryana, Delhi, and chief secretary SP Goyal approved Rs 65.5 crore for the Faridabad-Greater Noida Integrated Circuit during a high-level meeting on Monday to review the progress of key infrastructure projects under the public works department (PWD).Under the project, UP will construct a 1.7-km stretch from Atta Gujran up to the Haryana border, where the road will connect with an existing road, the Manjhawali bridge and Jasana in Faridabad. A 3km stretch will also be widened under the the project was first proposed in 2014, it has been plagued by repeated of the 630-metre-long Manjhawali bridge alone took over four years to commence and missed six deadlines before finally becoming operational in December despite being open, the bridge has remained largely underutilised due to the lack of a connecting road on the Uttar Pradesh side — held up by funding issues and land acquisition contrast, the approach road on the Haryana side is already said around seven hectares of land need to be acquired for the project. So far, land registry agreements have been signed with half of the 110 affected district administration has already received Rs 25 crore to compensate the affected farmers, and additional funds have been proposed to fast-track the acquisition construction of the long-awaited Faridabad-Noida-Ghaziabad (FNG) Expressway remains incomplete.
India Today
31 minutes ago
- India Today
Ahmedabad car showroom staff sold 68 vehicles, cheated company of Rs 9.71 crore
An Ahmedabad car showroom manager and assistant manager have been arrested for allegedly defrauding their employer by selling 68 cars without informing the company, resulting in a loss of approximately Rs 9.71 fraud came to light during an internal audit conducted in July, prompting the company's CEO, Rajneesh Arora, to file a police to the complaint, the audit of the company's trust department revealed that 53 second-hand cars purchased by the company were missing, and another 15 cars existed only on paper - bringing the total to 68 unaccounted A deeper investigation found that showroom manager Jitendra Sharma and assistant manager Chirag Dutt had sold these cars to various car dealers between April and July without entering the transactions into company said that Chirag Dutt had previously committed a similar offence. During his previous employment, he allegedly sold a car using a duplicate registration certificate book. A petition had been filed against him with the Crime Branch at the time, though no FIR was CEO explained that the company typically purchases a customer's old car when they buy a new one from the showroom, offering a fixed buyback amount. Sharma and Dutt exploited this process by directly contacting customers and selling the old cars to third-party inquiry, the company discovered that Chirag had personally sold 16 cars as an agent and kept the full payment. He also reportedly collected a commission of ?10,000 on each avoid detection, the duo routed payments received from these unauthorised sales into company accounts to cover other official car purchases - thereby maintaining the illusion of normal operations. However, they were caught when several car records were found missing during the accused are now in police custody.- Ends IN THIS STORY#Ahmedabad#Gujarat
