Home India News Kerala seeks approval for Rs.53,825 crore infrastructure project

Kerala seeks approval for Rs.53,825 crore infrastructure project


Thiruvananthapuram : Kerala has sought the central government’s approval for the Kochi-Palakkad National Investment and Manufacturing Zone (NIMZ), a Rs.53,825 crore mega industrial infrastructure project, according to State Industries Minister P.K. Kunhalikutty.

“The centre has sought more details from the state government for giving clearance to the project. This is being submitted to the centre,” Kunhalikutty said Monday.

NIMZ would include six industrial zones, two food and agro processing zones, three engineering and electronics zones, one chemical and petrochemical zone and a facility for power generation.

The total extent of land proposed for the NIMZ is 5,200 hectares between Kochi and Palakkad.

The scheme will generate direct employment to five lakh people over five years, and indirect employment to 25 lakh people in 10 years.

The state government will also place this project at the Emerging Kerala Global Connect event to be held at Kochi next month and is planned to be executed under the PPP model.

Alkesh Sharma, secretary, industries and managing director, KSIDC (Kerala State Industrial Development Corporation), said the gross state domestic product (GSDP) of the state comprises 66 percent contribution from the service sector and 22 percent from the manufacturing sector.

“The growth of the manufacturing sector will open up huge opportunities for industrial units and give a major fillip to employment generation in Kerala. Our vision is the holistic and sustainable development of an industrial NIMZ along the Kochi-Palakkad region, leveraging local resources and infrastructure facilities, without destabilising the environment,” said Sharma.

While the capital outlay for NIMZ has been pegged at Rs.53,825 crore, the expected investment inflow is around Rs.1,00,000 crore over 10 years.

KSIDC executive director T.P. Thomas Kutty said the NIMZ would be a combination of production units, public utilities, logistics, environmental protection schemes and ancillary facilities.

“For meeting the power requirement, gas-based power plants with an installed capacity of 2,500 MW would be set up in the NIMZ,” said Thomas Kutty.