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Business EconomyPosted at: Sep 19 2019 2:43PM


Chennai-Bengaluru Industrial Corridor to be extended to Kochi

Thiruvananthapuram, Sep 19 (UNI) The Chennai-Bengaluru Industrial Corridor will be extended to Kochi via Coimbatore.
This will give a big boost to develop manufacturing industries in Kerala.
The National Industrial Corridor Development and Implementation Trust (NICDIT) has informed the Centre's decision in this regard to the state government, sources quoting the Chief Minister's office said here on Thursday.
As part of the corridor, two Integrated Manufacturing Clusters (IMC) will come up in Palakkad and Salem, and that could attract an investment of Rs 10,000 crore and provide thousands of jobs.
A Special Purpose Vehicle (SPV) will be set up jointly by the State and the Central Governments to run the IMC. The Centre will invest Rs 870 crore for the project and the State will bear the expenses of the land.
Earlier the Centre insisted for the acquisition of 2000 to 5000 acres of land for setting up the IMC. But, the State Government informed its inability to provide that much land, and urged the Centre to scale down it to 1,800 acres.
The state government has already identified the land in Palakkad, Kannampra, Uzhalapathy and Puthussery. The corridor will transform the Kochi-Palakkad region into a manufacturing hub of Kerala.
UNI DS CS 1442
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