Recognizing the significance of Metro and road connectivity in attracting investors, an official spokesperson highlighted that once the land acquisition procedures for GIFT City are completed, the Central and state governments will form a joint venture to implement the project. According to Loknath Behera, the Managing Director of KMRL, GIFT City is an integral component of the Kochi-Bengaluru Industrial Corridor project under the National Industrial Corridor Development and Implementation Trust. It is slated to be developed on a 360-acre plot in the Ayyampuzha panchayat near Angamaly, approximately 15 km away from Cial.
However, due to the revised compensation amount of Rs 850 crore, the project requires approval from the Kerala Infrastructure Investment Fund Board (KIIFB) and various other departments. The state government aims to complete the land acquisition process by September of this year. The Kerala Industrial Infrastructure Development Corporation (Kinfra) has already prepared the detailed project report (DPR) for the GIFT City project, further advancing the initiative.