Palakkad Industrial City Will Now Become A Reality, Says Kerala CM
Kerala Chief Minister Pinarayi Vijayan on Thursday announced that the much-awaited Palakkad Industrial City will soon become a reality.
Taking a step forward in the manufacturing sector, the Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday had approved 12 industrial smart cities across the country.
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The grand clearance for the Palakkad industrial city was given as a part of “a grand necklace of industrial smart cities” under the National Industrial Corridor Development program with an estimated investment of Rs 28, 602 crore.
Announcing the new development, the Chief Minister wrote on X, “Palakkad Industrial City which is expected to attract investments worth ₹10,000 crore and create over 55,000 jobs will now become a reality. The State Government’s swift land acquisition efforts and our persistence in securing the Union Government’s approval have now paid off. Kerala’s industrial landscape is set to be transformed with the Union Cabinet’s clearance for this crucial component of the Kochi-Bengaluru Hi-Tech #IndustrialCorridor.”
A press note issued by Industries Minister P. Rajeev said that the state government had acquired the land required for the project in record time.
“The Palakkad industrial smart city is the most important part of the Kochi-Bengaluru industrial corridor, which is expected to bring to Kerala investments to the tune of ₹10,000 crore… The State government had acquired 82% of the land required for the project in 2022 itself,” the Minister said.
Palakkad Industrial City which is expected to attract investments worth ₹10,000 crore and create over 55,000 jobs will now become a reality. The State Government’s swift land acquisition efforts and our persistence in securing the Union Government’s approval have now paid off.…
— Pinarayi Vijayan (@pinarayivijayan) August 29, 2024
The new industrial project will be established at Pudussery in Palakkad district. It will come up on a 1,710-acre site at an investment of Rs 3,806 crore.
The project site is close to the Kochi-Salem National Highway and will be the only industrial area to promote medicinal chemicals and botanical products.
The other focussed sectors for the Palakkad Industrial Smart City include non-metallic mineral products, rubber and plastic products, the hi-tech industry, fabricated metal products and machinery and equipment.
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P Rajeev also said that Kerala will become a hub of high-tech manufacturing with the implementation of the project.
As per the press release by the Cabinet Committee on Economic Affairs (CCEA), the smart cities will be developed ahead of the demand and feature modern amenities designed to attract both domestic and international investments.
