Industrial infrastructure in the State is set to get a major fillip with the plan for the development of two industrial parks with funding from the Kerala Infrastructure Investment Fund Board (KIIFB).
One of the projects is the phase 2 of the Life Sciences Park at Mangalapuram in Thiruvananthapuram district, which has an approved outlay of ₹301.17 crore. The Petrochemical and Pharma Park at Ernakulam has an approved outlay of ₹1,264 crore. Revenue generated from the lease of these industrial parks will be utilised by the project SPVs, Kerala State Industrial Development Corporation (KSIDC) and Kerala Industrial Infrastructural Development Corporation (KINFRA) to repay the funding provided by the KIIFB.
Beside these, the KIIFB is also funding acquisition of land for the proposed industrial infrastructure to be developed in Kannur and Palakkad districts. In Kannur, Azhikkal port is being developed.
The KINFRA had earlier submitted a concept note on the development plan for industrial infrastructure in various districts of the State. It envisages a sectoral mix of industrial units comprising health care industry, MICE (Meetings, Incentives, Conferences and Exhibitions) tourism, logistics, hotels and allied industries. The plan also envisages land acquisition for development of educational infrastructure comprising universities, research facilities and academies.
The State government had in July 2018 approved the Industrial and Commercial Policy 2018, with the long-term vision of transforming the State into a vibrant investment destination. One of the objectives with respect to industrial infrastructure is to ensure sufficient land availability through acquisition, pooling, and through private industrial parks or estates.
It also envisages to accelerate the development of industrial clusters in the State in line with the national manufacturing policy, development of petroleum, chemicals and petrochemical investment regions, electronic manufacturing clusters, and MSME-Cluster Development Programme.
A total amount of ₹14,275.17 crore has been set aside by the KIIFB for industrial infrastructure projects in the State, out of which ₹1,565.17 crore is for the development of two industrial parks and ₹12,710 for the land acquisition for various industrial infrastucture.
