KOCHI: The state government has handed over Rs 346 crore to acquire land for the proposed manufacturing hub at Palakkad, which is part of the Kochi-Bengaluru industrial corridor. “Now the land acquisition proceedings of the Kochi-Bangalore industrial corridor will speed up.
The chief minister, on Tuesday, handed over Rs 346 crore for the purpose to KINFRA, which is the nodal agency of the state government for the project. The funds were transferred online,” Minister for Industries E P Jayarajan tweeted on Tuesday. The funds were provided through the Kerala infrastructure Investment Fund Board.
The amount will be utilised for the acquisition of 292 acres of land at Kannambra in Palakkad. A total of 470 acres need to be acquired for the first phase of the project. The Kochi-Bengaluru industrial corridor project consists of nine mega clusters which will help optimise economic and employment potential by stimulating investments in manufacturing, agro-processing, services and export-oriented units.