KOCHI: The state’s dream to evolve as a potential industrial investment hub has got a major fillip as the drone survey of the 2,000 acres of land identified for the Kochi-Coimbatore industrial corridor in Palakkad was completed on Wednesday. Speaking to TNIE in an interview, Alkesh Kumar Sharma, who recently took charge as principal secretary, industries, Kochi-Bengaluru Industrial Corridor, said the project also involves developing Kochi as a ‘global city’ at par with Hong Kong and Singapore focusing on non-polluting industries such as banking, insurance and IT over 500 acres in and around Ernakulam.
On the mapping in Palakkad, Sharma said the drone survey was done on the land spread across Kammanthra, Pudussery and Ozhalapathy.The Centre recently decided to extend the Chennai-Bengaluru Industrial Corridor to Coimbatore and then to Kochi, thereby creating Kochi-Bengaluru Industrial Corridor. The proposed corridor will have NH 544 as its spine with the added advantage of the existing rail network, the natural gas pipeline, ports and airports in Kochi and Coimbatore.
“The perspective plan of the project was completed and, in the first phase, the development of the corridor comprising industrial and commercial nodes will be carried out in Palakkad, in the land already identified for the purpose. A portion of land owned by BEML will also be used for the Corridor City. The plan is to develop the area by bringing in potential investors and industries which are sustainable and leveraging on local resources supported by modern infrastructure,” said Sharma.
He said the agency will soon finalise the shareholder agreement. “The special purpose vehicle for the Kochi-Coimbatore industrial corridor, with 50:50 equity stake by the Central and state governments, will have the power to drive the project,” said Sharma.The district collectors of Thrissur and Ernakulam districts, where the other two dedicated zones will be set up in the first phase of the project, have already been asked to identify the available land for the development.
Kochi to be made global city
Sharma, who is also the managing director of Kochi Metro Rail Ltd, said he is looking at acquiring nearly 500 acres in Ernakulam for developing it into a global city. “In Ernakulam, availability of land is a big issue. We have the land given back by FACT, which we are considering for the project. To develop Kochi as global city, the focus will be on bringing in trade and equity-holding companies to the city,” he said.
Metro bonds in six months
Kochi Metro Rail Ltd plans to raise I1,000 crore through bonds issue, which will be offered to institutional investors and the public. The bonds’ tenure will be 10-12 years, with an early redemption of three, five and seven years. The rating agencies ICRA and India Ratings have been assigned the task of rating the bonds, said Alkesh Kumar Sharma, managing director, KMRL. He said the KMRL is confident of generating considerable interest from the public, given the Keralites’ support for similar projects like CIAL and Kannur airport. “We are hoping to raise funds through the metro bonds in six months’ time,” he said.
