Latest news with #Kochi-BengaluruIndustrialCorridor
The Hindu
15-05-2025
- Business
- The Hindu
First phase of infrastructure for Palakkad Smart City to cost ₹1,100 crore
The first phase of infrastructure development for the proposed Palakkad Smart City will cost an estimated ₹1,100 crore. The Smart City is part of the upcoming Kochi-Bengaluru Industrial Corridor project. The investment will be on infrastructure development in the Puthussery Central and Kannambra areas, spread out over 1,400 acres. The infrastructure development and the tenders, which have been invited for the purpose, are central to the ambitious Industrial Corridor Development Project, said Industries Minister P. Rajeeve. The work to develop the infrastructure is expected to be completed in four years. Bids for the Integrated Command and Control Centre building, landscaping etc will be called soon, the Minister said in a social media post. The infrastructure for which bids have been invited now include the roads in the project area, drainage, bridges, water supply system, fire fighting systems, water recycling process, sewerage line and water treatment plant. Master plan The master plan and detailed project report (DPR) for the initiative is ready. The project will be supervised and completed on a 50:50 basis between the National Industrial Corridor Development and Implementation Trust and Kerala Industrial Corridor Development Corporation Limited of Kerala government, which is a special purpose vehicle. The State government has invested its share through KIIFB and the Central government will invest an equal amount on the project. The State government had handed over 220 acres more to the Kerala Industrial Corridor Development Corporation in Puthurssery taluk in Palakkad district towards the end of April. Handing over the land is expected to speed up works on the project and increase the State government's share in the project.
Time of India
21-04-2025
- Business
- Time of India
Kerala govt to proceed with Global City project in Ayyampuzha after Centre withdraws approval
Kochi: As Centre refused to grant approval for the proposed Global City project in Ayyampuzha , state govt will proceed with the project on its own. Industries minister P Rajeeve informed this after visiting the project site on Monday. Tired of too many ads? go ad free now "With Centre withdrawing from the project, state govt now faces additional responsibilities. This has raised concerns about whether the project can be executed profitably. A committee comprising district collector, MLA and grama panchayat president will be formed to coordinate the next steps of the project," Rajeeve said. Global City was proposed as one of the major components of Kochi-Bengaluru Industrial Corridor (KBIC) project. Among the two nodes of KBIC, Industrial Manufacturing Cluster (IMC) in Palakkad was approved by cabinet committee on economic affairs six months ago, and state govt transferred 325.26 acres for Palakkad IMC. However, the other node, Global City, which was intended to span across 358 acres in Ayyampuzha, faced uncertainty as Centre placed it on the back burner, citing that key elements of the development planned in Ayyampuzha are primarily residential and real estate ventures, rather than industrial undertakings as defined by regulation. "When Kochi Gift City was envisioned as part of industrial corridor, central and state govts had agreed to share project cost equally. After being informed that Gift City was designated exclusively for Gujarat, the project was renamed Global City. Chief minister sought approval from Prime Minister, but Centre has now stated that this project cannot be included as part of industrial corridor," he said. "Initially, there was an agreement to allocate Rs 500 crore to acquire 500 acres, but this has now been reduced to 358 acres. Tired of too many ads? go ad free now Kinfra received Rs 849 crore from KIIFB for land acquisition. Out of the 358 acres, only 215 acres can be allocated for industrial projects. Consequently, cost of land for entrepreneurs is likely to increase significantly. These matters will be examined in detail. Efforts are under way to explore how Global City can be made profitable," the minister said. Land acquisition procedures for the project were delayed for the past two-and-a-half years as fund was not released. The amount released by KIIFB was insufficient to compensate landowners as it was fixed based on assessment of land value made two-and-a-half years ago. Therefore, a team of revenue officials has revised the compensation amount.
