Centre Approves Rs 300.2 Cr for Palakkad Industrial Smart City Project under Kochi–Bengaluru Corridor

The Central Government has approved a third installment of Rs 300.2 crore for the Palakkad Industrial Smart City Project, a key component of the Kochi–Bengaluru Industrial Corridor. The funds have been allocated to the Kerala Industrial Corridor Development Corporation (KICDC), which is spearheading project implementation.

Alongside the financial allocation, the Kerala Government has transferred 316 acres of land to the corporation, bringing the total central commitment to Rs 613.7 crore and the state’s contribution to 646 acres of land.

The KICDC, a joint venture between Kerala Industrial Infrastructure Development Corporation (KINFRA) and the National Industrial Corridor Development and Implementation Trust (NICDIT), is tasked with developing the project into a world-class industrial hub, boosting investment, employment, and regional economic growth.