First-Phase Tender Completed, Palakkad Smart City Launches Project Office

Thiruvananthapuram: Palakkad Following the completion of the first-phase tendering process for the Kochi-Bengaluru industrial corridor, Palakkad Smart City is set to take the next step with the inauguration of its project implementation office, scheduled for tomorrow, minister for industries p rajeev informed through his facebook post.

Kerala has become the first state in the country to complete foundational infrastructure procedures among the 12 industrial corridors approved nationally. The contract, which includes GST, is valued at 1,316.13 crore rupees. The total estimated cost of the Palakkad Smart City project is approximately 3,600 crore rupees. For land acquisition, the state government had already spent 1,489 crore rupees through KIIFB.

Currently, land held by KINFRA is being gradually transferred to the Corridor Development Corporation. In the first phase, 110 acres were transferred in December, followed by 220 acres in March, with the central government releasing 313.5 crore rupees in two installments.

The development operations of Palakkad Smart City are being coordinated by the Kerala Industrial Corridor Development Corporation Limited (KICDC), a special purpose vehicle formed as a joint venture between KINFRA under the Kerala government and the National Industrial Corridor Development and Implementation Trust (NICDIT) under the central government.