States » SouthPosted at: Oct 2 2026 7:59PM


Fifth tranche of Rs 428 crore released for Palakkad Industrial Smart City

Palakkad (Kerala), Oct 2 (UNI) The Palakkad Industrial Smart City project under the Kochi-Bengaluru Industrial Corridor has received a major funding and land allocation boost with the release of the fifth tranche of Rs 428.14 crore by the Centre and transfer of 424.18 acres by the Kerala Government.
The Rs 428.14 crore equity contribution has been released by the Government of India through the National Industrial Corridor Development and Implementation Trust (NICDIT), while the State Government has transferred the corresponding land through the Kerala Industrial Infrastructure Development Corporation (KINFRA).
With the latest transfer, 90 per cent of the total Central and State allocations earmarked for the Palakkad Smart City project have now been transferred to the Kerala Industrial Corridor Development Corporation (KICDC).
KICDC, the Special Purpose Vehicle (SPV) constituted for implementing the project, is an equal joint venture between KINFRA, under the Kerala Government, and NICDIT, under the Central Government.
The total equity infusion received by KICDC from NICDIT has now reached Rs 1,362.60 crore, while the State Government has transferred 1,313.18 acres of land to the Corporation.
The State Government had acquired 1,450 acres through KINFRA for the project at a total cost of Rs 1,489 crore. The land is being handed over to KICDC in proportion to the Central funds released for the project.
The balance funds and land are expected to be transferred in one or two instalments in the coming months, completing the major financial and land contributions required for the project.
The 424.18 acres transferred in the fifth phase comprises 356.15 acres in Pudussery Central and 68.03 acres in Kannambra. Following the latest transfer, KICDC's total land possession has risen to 1,002.15 acres in Pudussery Central and 311.03 acres in Kannambra.
Kerala is the first State in the country to complete the tendering process for infrastructure development among the 12 Industrial Smart Cities proposed across the country.
Infrastructure development works at the Palakkad Smart City, which began in October last year, are progressing with the target of completing the works by April 2029. The Government is also proceeding with steps to make the Smart City fully operational, including land allotment, with the allotment process scheduled to commence in January.
The project is progressing under the leadership of Industries Minister P.K. Kunhalikutty. KICDC Managing Director Santhosh Koshy Thomas said the progress of the project was being reviewed every month by Additional Chief Secretary (Industries) A.P.M. Mohammed Hanish, the District Collector and officials of NICDC.
An Engineering, Procurement and Construction (EPC) contract has been awarded for the comprehensive development, design, construction and maintenance of the Smart City.
Design components submitted by the contractor are being evaluated on a fast-track basis, with infrastructure development moving ahead simultaneously. IIT Palakkad and NIT Tiruchirappalli are providing technical inputs and validating the infrastructure designs.
Subgrade work for more than 20 km of roads within the Smart City site has already been completed, marking significant progress in the development of the industrial hub.
UNI DS
Tags: #Fifth tranche of Rs 428 crore released for Palakkad Industrial Smart City
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