The Kerala government has sanctioned Rs 700 million to KINFRA for land acquisition for the Kochi-Palakkad Hi-Tech Industrial Corridor, part of the Kochi-Bangalore Industrial Corridor (KBIC). The corridor includes the Palakkad Industrial Manufacturing Cluster and the 350-acre Global City in Ayyampuzha, pending Central approval. The funds will repay a KIIFB loan. With a total project cost of Rs 26.08 billion, the corridor is a key industrial initiative aimed at boosting manufacturing. The Palakkad IMC has Central approval under the National Industrial Corridor Development Programme.