Industry Minister P. Rajeeve said the state government is planning to continue in principle the global city project in Ayyampuzha in Ernakulam, which is conceived as part of the Kochi Bangladesh Industrial Corridor Project (KBIC).
He spoke at the landowners meeting in Ayyampuzha on Monday. He said the state government would have to take on additional burdens and the union government pulled out of the project. The withdrawal raised concerns about whether the project could run profitably, he said.
A committee composed of regional collectors, MLA and chairs of Grama Panchayat will be formed to coordinate further steps to the project. When the project was originally conceived as a gift city project, it was understood that the union and the state would each have 50% of the project cost. The project was renamed a Global City after announcing that Gift City was designated only as Gujarat. Although the Chief Minister has met with the Prime Minister to seek approval for the project, the Union Government has informed the project that it cannot be approved as part of the Industrial Corridor. This has led to a situation where the state government must implement the project on its own.
The initial plan was to allocate Rs 500 crore to acquire 500 acres of land. But it has now been reduced to 358 acres. Kerala Infrastructure Investment Fund Committee (KIIFB) has transferred Rs 849 crore to Kerala Industrial Infrastructure Development Corporation (KINFRA) for land acquisition. Of the 358, only 215 acres can be transferred to industrial projects. As a result, the price of land transferred to entrepreneurs may rise significantly. Mr Rajiv said on a visit to the proposed website that the government is exploring ways to ensure the project is profitable.
Roji M. John of MLA presided over the meeting. Regional collectors NSK Umesh, Kinfra MD Santosh Koshy Thomas, CPI (M) Regional Secretary S. Satheesh and other officials attended the meeting.
publishing – April 21, 2025 at 7:19 pm IST
