THIRUVANANTHAPURAM: The Kerala Infrastructure Investment Fund Board (KIIFB) has given sanction for the economic triangle linking Vizhinjam, Kollam and Punalur. The initiative is aimed at creating an industrial corridor that would stimulate the state’s economic growth, said Finance Minister KN Balagopal.
The board has made an initial allocation of Rs 1,000 crore for the project. The first phase would begin soon and negotiated purchase would be adopted for land pooling. The minister was briefing the press after the 51st board meeting of the KIIFB chaired by Chief Minister Pinarayi Vijayan. The triangle, anchored by the Vizhinjam Port spans Kollam and Thiruvananthapuram, covering an area of Rs 1456 sq km.
“The corridor will align with the port’s operations, facilitating efficient logistics across the region. This is a significant step towards the transition of the state into a port-based economy,” Balagopal said.
The growth triangle envisions a seamless integration of transport and logistics hubs with industrial zones. It is structured around the concept of nodes, sub-nodes and corridors. According to Balagopal the project will establish an industrial ecosystem that can compete on the global stage by leveraging both natural and infrastructural advantages.