Kerala Chief minister Pinarayi Vijayan said the land acquisition process for the Kochi-Bengaluru industrial corridor was progressing at a fast pace. Around 87% of land acquisition for the project that require 2,242 acres of land was expected to be completed by May, the CM said.
“Around 298 acres are being acquired in Kannambra village in Palakkad, 653 acres in Puthussery central 1 village, 556 acres in Puthussery central village 2 and 375 acres in Puthussery village 3. For the setting up of GIFT City, 358 acres are acquired in Ayyampuzha,” said in a Facebook post.
“The project is being funded through Kerala Infrastructure Investment Fund Board. The Kinfra, under the industries department, is the nodal agency of the state government for implementation of the Kochi-Bengaluru Industrial Corridor,” Vijayan said.
He said the state government has formed a separate company, the Kerala Industrial Corridor Development Corporation, the special purpose vehicle for the project, as the Union Ministry of Commerce had approved the extension of the Bangalore Industrial Corridor to Coimbatore and Kochi.
The central government would give financial assistance amounting to the price of the land acquired.
He said the progress of the project was being reviewed at the ministerial level and a system has also been set up to closely monitor the land acquisition and follow-up activities of the industrial corridor.
“The industrial corridor is expected to create 22,000 direct jobs and 80,000 indirect jobs in the next five years, making a significant contribution to the development of Kerala,” the CM said.
The industrial corridor proposes establishment of dedicated zones for manufacturing and promoting investments, with the intention to make the country a hub of manufacturing activity to cater to the vast domestic markets and international markets.
The industrial corridor could create 22,000 direct and 80,000 indirect jobs in the next five years, according to the chief minister.