The government has sanctioned Rs 346 crore through KIIFB for industrial corridor project aimed to stimulate major commercial development in the state. The Kochi-Bengaluru corridor will comprise in its zone several industrial clusters including manufacturing units. The project, in partnership with the Centre, will run close to highways, harbours and railway. The fund allocated by state govt via KIIFB will be handed over to KINFRA in presence of Chief Minister Pinarayi Vijayan at 12 pm noon on Friday.
9 Industrial Clusers
The Kochi-Bengaluru Industrial Corridor(KBIC) will house nine mega industrial clusters related to: food processing, light engineering businesses, precious stones and gems cluster, plastic, e-waste, solid waste recycling, oil and gas, electrical, IT, logistics and automotive. With the setting up of the aforesaid clusters, the Kochi-Palakkad stretch will transform into a major manufacturing hub of South India.
Land acquisition for the corridor will be made from funds provided by KIIFB. KIIFB has already sanctioned Rs 12,710 crores for industrial infrastructure projects in Kannur and Palakkad stretches. In Palakkad, 470 acre of land will be acquired for KBIC project. KIIFB will hand over Rs 346 core to KINFRA to takeover 292.89 acres in the first phase. KIIFB has also sanctioned Rs Rs 1038 for acquiring 1351 acre land in Palakkad’s Ozhalpati and Puthusserry for KBIC project.