28 January Friday

Pact Signed For Kochi-Bengaluru Industrial Corridor; Rs 10,000 Crore Investments, Over 1 Lakh Job Opportunities

Special CorrespondentUpdated: Friday Oct 23, 2020


Kochi-Bengaluru Industrial Corridor(KBIC) -  the milestone leap for  state’s industrial and economic development becomes  a reality. An MoU for the historic project was inked by the  state and centre on Thursday.

The Kochi-Palakkad segment sprawling 1,800 acre will be readied at first   in phase-1 of the project and is estimated to attract Rs 10,000 crore in investments and generate direct employment for over 22,000 people and indirect jobs for another 80,000.

In the first phase, Industrial Manufacturing Clusters(IMCs) will be set up in the districts of Palakkad, Thrissur, and Ernakulam for activities comprising precision engineering, IT, bio-technology, life sciences etc. The second phase will facilitate setting of similar  IMCs at Kannur, Kozhikode, Malappuram and Kasaragod. The agreement was signed in presence of Chief Minister Pinarayi Vijayan and specified  roles to be fulfilled by  state and central governments toward the project. KINFRA has been identified as nodal agency for project implementation.

A Special Purpose Vehicle(SPV) will be formed for detailed planning, design, implementation and maintenance of the corridor. The SPV Board will comprise equal number of representatives from the state and centre.

Sanjay Murthy, the  National Industrial Corridor Development and Implementation Trust(NCDIT)  CEO from centre, state’s specially designated official, Alkesh Kumar, and  KINFA Managing Director, Alkesh Kumar, were signatories to the agreement. 

A Historic Milestone : CM
The Kochi-Bengaluru Industrial Corridor(KBIC) is a historic milestone for the industrial and economic development of Kerala, said Chief Minister Pinarayi Vijayan. The project will connect Kerala to industrial corridors of western Tamil Nadu and other states around the country, said CM 

Aluva GIFT City - The inaugural project
The industrial corridor will take off with Koch’s Global Industrial Finance and Trading (GIFT)  project on 220 acre stretch in Aluva.  For this, the state govt has aready sanctioned the development of GIFT city on the location. GIFT is designed to be a hub for technology-based enterprises and is estimated to generate over 2 lakh jobs and bring in investments aggregating to Rs 1600 crore in investments.