News Brief
Kerala: Palakkad Industrial Smart City To Be Developed In Single Phase Under Kochi–Bengaluru Corridor
Smart City (Representative Image)
The Kerala Industrial Corridor Development Corporation (KICDC) has announced that the infrastructure development for the Palakkad Industrial Smart City, a flagship project under the Kochi–Bengaluru Industrial Corridor, will be implemented in a single phase, news agency PTI reported.
KICDC has reportedly begun preliminary preparations to move the project into its execution stage.
The first coordination meeting, involving representatives from the contracting consortium Dilip Buildcon–PSP Projects and the National Industrial Corridor Development and Implementation Trust (NICDIT), is scheduled for next week.
According to Industries Principal Secretary APM Mohammed Hanish, the project’s development works are expected to commence by the end of this month or early next month.
The Centre will release project funds in stages, with the state government transferring a proportionate share of land acquired by KINFRA once the central share is confirmed.
So far, the central government has released Rs 313.5 crore in two instalments, while the state has handed over 330 acres of land.
A third instalment from the Centre is expected soon, confirmed KINFRA Managing Director Santosh Koshy Thomas.
KICDC plans to complete infrastructure development within 42 months, after which land allotment to companies will begin.
While the land transfer will occur in phases based on fund availability, the entire infrastructure development will be executed in one go on land already acquired.
The state government had earlier invested Rs 1,489 crore through KIIFB for acquiring 1,450 acres, completing most of the process within 14 months.
The Palakkad Smart City is being developed through a special purpose vehicle jointly formed by KINFRA and NICDIT, with equal equity participation from both the state and the Centre.
