KINFRA to Identify Land for Industrial Corridor Project
Kerala Industrial Infrastructure Development Corporation (KINFRA) is gearing up to help implement yet another huge industrial development project in the State. With the Union Government having granted permission to extend the Chennai-Bengaluru industrial corridor till Kochi, KINFRA, according to top officials, will be scouting around to identify prospective land tracts to help realise the project.
The decision of the Central Government was conveyed by the National Industrial Corridor Development and Implementation Trust (NICDIT) in mid-September. Industrial corridor in Kerala has been a longstanding demand of the State. The permission came through only after the State Government’s repeated requests to the Centre.
According to the guidelines of NICDIT, 2000 to 5000 acres of land tract is necessary to set up Integrated Manufacturing Clusters (IMC). According to Pinarayi Vijayan, the Chief Minister of Kerala, the State Government was able to convince the difficulty in meeting the criteria as per the guidelines. Soon after the Centre’s decision was conveyed to the State, the Chief Minister convened a meeting of top government officials to discuss measures to expedite the project.
One of the two Integrated Manufacturing Clusters which will be developed as part of extending the industrial corridor will be established in Palakkad and nearby regions. The other cluster will be located in Salem in Tamil Nadu.
“The primary goal of the industrial corridor with state-of-the-art infrastructure facilities is to attract private investors to the State,” said Pinarayi Vijayan. The IMC will be considered as the next phase of SEZ development which was a Central Government initiative to attract investments to industrial manufacturing sector.
KINFRA is responsible for identifying nearly 2000 acres of land to set up the industrial corridor. “Procedures for acquiring land and completing other official formalities are being completed quickly with the goal of fast-tracking the project as per the policy of the State Government,” said Santhosh Koshy Thomas, MD, KINFRA.
The State Government hopes to translate the corridor-extension into at least 10,000 new jobs and investments worth Rs. 10,000 crore, transforming the Palakkad-Kochi stretch into a major manufacturing hub in the region. Electronics, food processing, traditional industries, IT and agriculture industries will be promoted in the IMC which is envisaged to be developed along the Kochi-Salem National Highway. The IMC will be developed on both sides of the highway at a length of 100 km.
NICDIT and Kerala Government will form a Special Purpose Vehicle to develop and manage the IMC. While the Central Government will invest about Rs. 870 crore for the project, the State’s share of investment will be the cost of the land acquired for the project.