After many requests of the Kerala government, the Centre has decided to extend the Chennai-Bengaluru industrial corridor to Kochi. The industrial corridor, as part of the national industrial corridor, will be extended through Coimbatore to Kochi. This comes after the recurrent efforts of the state government, Kerala Chief Minister Pinarayi Vijayan said on Wednesday.
The National Industrial Corridor Development and Implementation Trust (NICDIT) intimated the Centre’s decision regarding this to the state government.
“Even when various parts of the country were made part of the national industrial corridor, Kerala was ignored. The state government had been constantly approaching the Centre on the need to include Kerala also a part of that,” the Chief Minister said in his Facebook post.
Among the two Integrated Manufacturing Cluster (IMC) that will be developed as part of the Coimbatore-Kochi industrial corridor, one will be in Palakkad while the other will be in Salem, Tamil Nadu. “It is estimated that about 10,000 people will directly get employment from this and can also attract an investment of Rs 10,000 crore from private agencies to IMC,” stated Pinarayi Vijayan.
IMCs are part of the Centre’s move to increase the basic facilities of industries and thereby attract investments from private sectors. IMCs are also considered the second phase of the Special Economic Zone that was implemented by the Centre.
Kerala’s Integrated Manufacturing Cluster will be coming up in the 100 kilometre stretch on either side of Kochi-Salem National Highway. The IMC will be focussing on sectors like electronics, food processing, agro-industries, IT and traditional industries.
The CM also added that though it requires 2,000 to 5,000 acres of land to set up an IMC as per NICDIT, taking into consideration the land constraints of Kerala, the Centre has reduced the requirement to 1,800 acres of land. The state government has also identified lands in Palakkad, Kannambra, Ozhalapathy and Pudussery in Palakkad district.
The Special Purpose Vehicle (SPV), jointly set up by the state government and the Centre, will be in charge and control of the IMC. An SPV is a separate legal entity that is protected from the parent company’s financial risks, including bankruptcy.
The Chennai-Bangalore Industrial Corridor (CBIC) is one of the five industrial corridors coming up in the country. CBIC will come up along Chennai, Sriperumbudur, Ponnapanthangal, Ranipet, Chittoor, Bangarupalem, Palamaner, Bangarpet, Hoskote and Bengaluru.
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