Fifth tranche of Rs 428 crore released for Palakkad Industrial Smart City

Palakkad (Kerala), Oct 2 (UNI) The Palakkad Industrial Smart City project under the Kochi-Bengaluru Industrial Corridor has received a major funding and land allocation boost with the release of the fifth tranche of Rs 428.14 crore by the Centre and transfer of 424.18 acres by the Kerala Government. The Rs 428.14 crore equity contribution has been released by the Government of India through the National Industrial Corridor Development and Implementation Trust (NICDIT), while the State Government has transferred the corresponding land through the Kerala Industrial Infrastructure Development Corporation (KINFRA). With the latest transfer, 90 per cent of the total Central…