Kochi Funds Sanctioned for Hi Tech Industrial Corridor Land Acquisition
Kochi government has sanctioned ₹70 crore to Kinfra for land acquisition, a crucial step for the Kochi-Palakkad Hi-tech Industrial Corridor project. This significant initiative is a key component of the broader Kochi-Bangalore Industrial Corridor (KBIC), designed to significantly enhance industrial development and connectivity in the region. The newly released funds are specifically earmarked for the repayment of a loan previously provided by the Kerala Infrastructure Investment Fund Board (KIIFB), underscoring the ongoing financial mechanisms supporting this large-scale infrastructure endeavor.
Earlier, Kinfra had submitted a request to the state government, seeking a total release of ₹200 crore for this specific land acquisition purpose during the 2025-26 financial year. The government had already granted comprehensive administrative sanction for the entire hi-tech corridor project, with its total estimated cost reaching ₹2,608 crore. This substantial allocation is primarily directed towards covering the expenses related to the KIIFB-funded loan for land acquisition. The recent order confirming the ₹70 crore sanction explicitly states that these funds are being disbursed based on adherence to certain predefined conditions, ensuring a structured approach to project financing and execution.
The expansive Kochi-Bangalore Industrial Corridor (KBIC) is set to encompass 2,060 acres across the state and will strategically feature two primary development nodes. The first node is an Industrial Manufacturing Cluster (IMC) situated in Palakkad, while the second is a proposed Global City, formerly referred to as Gift City, planned for Ayyampuzha in Ernakulam district. Last year, a high-level cabinet committee, chaired by the Prime Minister, approved the development of 12 new industrial corridors under the National Industrial Corridor Development Programme (NICDP), which notably included the Palakkad IMC node, affirming its strategic national importance.
However, the proposed Global City, which is envisioned to be developed on 350 acres in Ayyampuzha, is currently awaiting central government approval to proceed. The timely and complete acquisition of land remains a critical prerequisite for the entire industrial corridor project to move forward smoothly and to successfully attract the necessary investments from both public and private sectors. The consistent disbursement of funds for land acquisition highlights the state government’s firm commitment to advancing this major industrial development, despite the significant financial outlay involved in such large-scale infrastructure projects.
The successful realization of the Kochi-Palakkad Hi-tech Industrial Corridor hinges on sustained funding and approvals. This project is expected to significantly transform Kerala’s industrial landscape, fostering economic growth and creating new opportunities for the region.
