Vizhinjam-Kollam-Punalur Industrial and Economic Growth Triangle envisages a port-based, ‘smart industrial ecosystem, says State government

The 51st board meeting of the Kerala Infrastructure Investment Fund Board (KIIFB) gives in-principle nod for the land acquisition scheme for the initiative

The Vizhinjam-Kollam-Punalur Industrial and Economic Growth Triangle envisages leveraging the benefits of the Vizhinjam international seaport for the rest of Kerala, according to the State government.

The 51st board meeting of the Kerala Infrastructure Investment Fund Board (KIIFB) gave in-principle nod for the land acquisition scheme for this initiative on Monday.

The project envisions the development of a port-based, ‘smart industrial ecosystem’ through seamless integration of transportation, logistics and industrial parks and efficient use of the main rail-road corridors, a statement said.

It said that the government hopes to attract investments worth ₹3 lakh crore over a three-year period by focusing on infrastructure, industrial corridors and tourism. For this initiative, the government is planning a phased approach covering feasibility studies, sourcing funding, and the development of roads and other infrastructure.

Vizhinjam seaport-centred economic development envisaged under the ‘growth triangle’ is designed to cover 1,456 sq km in Thiruvananthapuram and Kollam districts. The ‘main nodes’ and ‘sub nodes’ identified for the development of the growth triangle includes the Vizhinjam road, which is the main access to the port, the Kollam Urban Centre Road and the Punalur Road.

Seven key sectors considered vital for the State’s development have been included in the project: marine products processing and export, agriculture-based industries, IT/ITES and space sector, transportation and logistics, renewable energy, assembling units and the medical tourism/hospitality industry.

For finding the required land, the government will explore the possibilities in land pooling, public-private-partnerships, direct negotiated purchases and land exchange, the statement said. There are also plans to establish special economic zones along the industrial corridor.

Published - November 19, 2024 06:13 pm IST