Kerala's New Industrial City: Rs 10,000 Crore Investment, 55,000 Jobs

Thiruvananthapuram, Aug 29 (PTI) Kerala Chief Minister Pinarayi Vijayan on Thursday said the state's industrial landscape is set to be transformed with the Union Cabinet's clearance for a new industrial city in Palakkad.

His statement came a day after the Union Government approved 12 new industrial cities in 10 states including Palakkad in Kerala on the lines of Greater Noida in Uttar Pradesh and Dholera in Gujarat to boost domestic manufacturing.

In a post on 'X', Vijayan said Palakkad Industrial City which is expected to attract investments worth Rs 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. #KeralaLeads," the Chief Minister said.

The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the new project proposals under the National Industrial Corridor Development Programme (NICDP) with an estimated investment of Rs 28,602 crore.

State Industries Minister P Rajeeve said the state has already acquired the required 1,710 acres of land at a record pace for the project.

The Cabinet approval was received after the state government completed the initial procedures at a cost of Rs 1,790 crore.

"Recently, Chief Minister Pinarayi Vijayan met with Prime Minister Narendra Modi, and on June 28, I met with Union Minister Piyush Goyal to request project approval," he said in a FB post.

Rajeeve said industrial ventures in food processing, pharmaceuticals, defence, aerospace, and other sectors will emerge in Palakkad.

The government will provide permission to these industries through a single-window system and simplify procedures.

Following the policy of responsible industry and responsible investment, environmentally friendly industries will be established, creating more job opportunities, the minister said.

He also said the Kochi-Bengaluru Industrial Corridor will bring new life to Kerala's industrial sector.

The corridor aims to develop clusters in food processing, light engineering, jewellery, plastic, e-waste and other solid waste recycling, oil and gas fuels, electronics, IT, logistics, automotive, and other sectors, the minister added.