Kerala government sanctions transfer of 1,340 acres of land for development of Kochi-Bengaluru industrial corridor
The Kerala government has sanctioned the transfer of 1,340 acres of land to the Kerala Industrial Corridor Development Corporation (KICDC), the special purpose vehicle created for the development of the Kochi-Bengaluru industrial corridor. The project envisages, among other things, the development of two major nodes- the Integrated Manufacturing Cluster at Palakkad and the Global City at Kochi.
The total land requirement for the Integrated Manufacturing Cluster, the first node of the project, is 1,710 acres, spread across three parcels – Pudussery Central, Pudussery West, and Kannambra in Palakkad district. The State government earlier accorded administrative sanction for acquisition of land in Palakkad for the industrial corridor project with the financial aid of Kerala Infrastructure Investment Fund Board (KIIFB). As part of this, the government accorded sanction to transfer 110 acres of land in Pudussery village in Palakkad.
The managing director of the Kerala Industrial Infrastructure Development Corporation (KINFRA), the nodal agency for land acquisition, had earlier this year requested the government to transfer the remaining land to the special purpose vehicle (SPV) with absolute ownership, free from all encumbrances, and granting of freehold rights to the SPV.
Following this, the government decided to accord sanction to transfer the remaining 1,340 acres to the SPV. An area of 1,450 acres was earlier acquired for the project, out of which 110 acres was transferred earlier. The Industries Minister had said last month that the State government is planning to go ahead in principle with the Global City project in Ayyampuzha. It will have to bear an additional burden with the Union government withdrawing from the project.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
4 days ago
- Time of India
No need of slum-dwellers' nod for Dharavi project, says CEO
MUMBAI : Responding to queries on the resistance to the Dharavi redeveloment project from a section of slum-dwellers, its CEO, S V R Srinivas , told TOI that more than 50% of the residents have already consented to the project. But more significantly, he revealed that the project did not require public consent in the first place because the developer had been appointed by the state govt. "Under the SRA rules, the building society appoints the developer. For that, 50% consent is required. But here, the govt has appointed the developer. In this case, there is no need for consent," said Srinivas in an exclusive interview to TOI. The project is being implemented by Nav Bharat Mega Developers Pvt Ltd, an SPV in which the Adani Group holds 80% stake and the govt 20%. The land on which Dharavi stands is owned by the govt and the BMC. Srinivas said around 1 lakh slum-dwellers had responded to the house-to-house survey and just around 20,000 remained to be surveyed. So even if the 50% consent parameter was applied, it had already been crossed, he said. Participation in the door-to-door survey on eligibility for rehabilitation translated into consent, he clarified. "They have given their documents voluntarily. There is a line in the survey which says they are willing to participate in the redevelopment. So, when they sign, it is consent," said Srinivas. Although consent is not required for the project, the govt had made multiple efforts to get residents to respond to the survey and agree to the project, he emphasised. "We don't want to ride roughshod on anybody. We have already given four opportunities. We put it in the newspaper and then we also put it on their doors," he said. Srinivas said that the survey was still ongoing but roughly 5 lakh eligible tenements would need to be given free space within Dharavi and 5 lakh ineligible tenements would have to move out to subsidised rental housing outside Dharavi. But the question is: Why a massive expanse of 541 acres of land has been earmarked for rental housing and a free sale component for the Adani-led SPV? This has fuelled allegations from the opposition that the project is essentially a "land-grab" to capture lucrative real estate both within and outside Dharavi. The 541 acres for rental housing have been allocated in Deonar, Kurla, Aksa, Malvani and salt pan lands in Bhandup, Mulund and Kanjurmarg. Of this, possession has been given of 63.5 acres so far in Kurla and Mulund. Srinivas said the land meant for rental housing was in the possession of the state's DRP and was not with the Adani-led SPV. "The problem is that there is a shortage of land in Mumbai. We had written to many different agencies including from the central government for these lands. In some cases, there were rejections. So, we did not know which lands would come and we started applying to different places," he said. "Now these lands are coming but they will be with the DRP. Unless people are rehabilitated, the land will not be given to the SPV," he said. He also said that rental units would be built in phases. If all the land was not required, then all the parcels would not be used. The land which is not used from the 541 acres would then revert from the DRP to the govt. "Our mandate is limited to Dharavi. The land that is not used, will revert to the govt," said Srinivas. Responding to questions about the basis on which the project has been planned since the door-to-door survey on eligible and ineligible tenements is yet to be completed, Srinivas said, "There was initially a drone survey followed by a LIDAR survey to map the structures in the area. And now there is a physical door-to-door survey, which is almost complete. Based on these three, we did a comparison and an extrapolation of data, which is how it works. In projects of this size, some things can go on simultaneously," he said.
Time of India
5 days ago
- Time of India
No need of slum-dwellers' nod for Dharavi project, says CEO
MUMBAI: Responding to queries on the resistance to the Dharavi redeveloment project from a section of slum-dwellers, its CEO, S V R Srinivas, told TOI that more than 50% of the residents have already consented to the project. But more significantly, he revealed that the project did not require public consent in the first place because the developer had been appointed by the state govt. "Under the SRA rules, the building society appoints the developer. For that, 50% consent is required. But here, the govt has appointed the developer. In this case, there is no need for consent," said Srinivas in an exclusive interview to TOI. The project is being implemented by Nav Bharat Mega Developers Pvt Ltd, an SPV in which the Adani Group holds 80% stake and the govt 20%. The land on which Dharavi stands is owned by the govt and the BMC. Srinivas said around 1 lakh slum-dwellers had responded to the house-to-house survey and just around 20,000 remained to be surveyed. So even if the 50% consent parameter was applied, it had already been crossed, he said. Participation in the door-to-door survey on eligibility for rehabilitation translated into consent, he clarified. "They have given their documents voluntarily. There is a line in the survey which says they are willing to participate in the redevelopment. So, when they sign, it is consent," said Srinivas. Although consent is not required for the project, the govt had made multiple efforts to get residents to respond to the survey and agree to the project, he emphasised. "We don't want to ride roughshod on anybody. We have already given four opportunities. We put it in the newspaper and then we also put it on their doors," he said. Srinivas said that the survey was still ongoing but roughly 5 lakh eligible tenements would need to be given free space within Dharavi and 5 lakh ineligible tenements would have to move out to subsidised rental housing outside Dharavi. But the question is: Why a massive expanse of 541 acres of land has been earmarked for rental housing and a free sale component for the Adani-led SPV? This has fuelled allegations from the opposition that the project is essentially a "land-grab" to capture lucrative real estate both within and outside Dharavi. The 541 acres for rental housing have been allocated in Deonar, Kurla, Aksa, Malvani and salt pan lands in Bhandup, Mulund and Kanjurmarg. Of this, possession has been given of 63.5 acres so far in Kurla and Mulund. Srinivas said the land meant for rental housing was in the possession of the state's DRP and was not with the Adani-led SPV. "The problem is that there is a shortage of land in Mumbai. We had written to many different agencies including from the central government for these lands. In some cases, there were rejections. So, we did not know which lands would come and we started applying to different places," he said. "Now these lands are coming but they will be with the DRP. Unless people are rehabilitated, the land will not be given to the SPV," he said. He also said that rental units would be built in phases. If all the land was not required, then all the parcels would not be used. The land which is not used from the 541 acres would then revert from the DRP to the govt. "Our mandate is limited to Dharavi. The land that is not used, will revert to the govt," said Srinivas. Responding to questions about the basis on which the project has been planned since the door-to-door survey on eligible and ineligible tenements is yet to be completed, Srinivas said, "There was initially a drone survey followed by a LIDAR survey to map the structures in the area. And now there is a physical door-to-door survey, which is almost complete. Based on these three, we did a comparison and an extrapolation of data, which is how it works. In projects of this size, some things can go on simultaneously," he said.
&w=3840&q=100)
Business Standard
06-06-2025
- Business Standard
Rama Steel jumps 13% on renewable energy foray; stock up 25% in 3 days
Shares of Rama Steel Tubes soared nearly 13 per cent on Friday's intraday session after the company entered the renewable energy sector through a joint venture partnership in a 225 megawatt (Mw) solar power project. Steel tube manufacturer's stock rose as much as 12.8 per cent during the day to ₹14.9 per share, a day after the stock jumped 18 per cent. The stock pared gains to trade 8.4 per cent higher at ₹14.3 apiece, compared to a 0.13 per cent advance in Nifty 50 as of 9:34 AM. The company's shares extended their rally for a third straight session, gaining 25 per cent over the past three trading days. The counter has risen 19.3 per cent this year, compared to a 4.5 per cent advance in the benchmark Nifty 50. Rama Steel Tubes has a total market capitalisation of ₹2,203.9 crore. Track LIVE Market Updates Here Rama Steel's strategic foray into renewable energy Rama Steel announced a strategic investment in the renewable energy sector through a joint venture partnership in a 225 Mw solar power project under the Government of India's Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM) scheme. The project is being implemented through Onix IPP, a Special Purpose Vehicle (SPV), and spans multiple locations in Maharashtra. Power Purchase Agreements (PPAs) have been signed with the Maharashtra State Electricity Distribution Company Limited (MSEDCL) at a fixed tariff of ₹3.04 per unit for 25 years. The SPV is projected to generate gross annual revenue of ₹1,081.13 million, with a total revenue visibility of ₹27,028.13 million over 25 years. With a 10 per cent equity stake in Onix IPP, RSTL's share of gross annual revenue is expected to be ₹108.11 million, translating to ₹2,702.81 million over the project's lifetime. This move marks Rama Steel Tubes' entry into the fast-growing renewable energy sector, reinforcing its commitment to Environmental, Social and Governance (ESG) goals, and creating long-term value for shareholders, it said in a statement. "We are proud to be part of this landmark renewable energy initiative. Our strategic investment in the 225 MW PM-KUSUM project not only strengthens our ESG profile but also diversiϐies our revenue base," Richi Bansal, whole time director and chief executive officer, said. "This is a future-forward step aligned with India's net-zero vision and rural empowerment." About Rama Steel The company's manufacturing facilities are located at Sahibabad in Ghaziabad District of Uttar Pradesh and Khopoli in Raigarh District of Maharashtra. The total installed capacity stood at 96,000 MT. The product applications have usage in various industries, including automobiles, infrastructure, real estate and furniture. The key products in the portfolio include galvanised tubes, ERW black steel pipes and tubes, scaffolding pipes and tubes, structural steel products and hollow sections.
