Rs 2.39 billion assigned for Kochi Metro's second phase

09 Feb 2024 CW Team

In his budget speech, Finance Minister K N Balagopal made allocations for various ongoing projects in Kochi.

He mentioned that the only major fresh project for Kochi in the 2024-25 budget was the international residential-commercial complex at Marine Drive, costing Rs 21.50 billion. However, he pointed out that no funds had been earmarked for the same.

An important allocation was Rs 2.39 billion for the second phase of the Kochi Metro rail, from Palarivattom to Infopark at Kakkanad. The preparatory works for this phase are underway, and the allocation is expected to support land acquisition and other preliminary activities.

The state government successfully acquired 600 acres for the Petrochemical Park at Ambalamugal, with 481 acres transferred to Kinfra for the park's establishment. Several companies have initiated their projects at the park. A sum of Rs 130 million has been allotted for various infrastructure development works in the park.

For the Cochin Cancer Research Centre (CCRC), the budgetary allocation stands at Rs 140.5 million. The project, amounting to Rs 3.7 billion, is rapidly nearing completion.

In the industry sector, Rs 2 billion has been allocated for the Kochi-Bengaluru industrial corridor, and Rs 170 billion for industrial parks in Kochi, Perumbavoor, and Palakkad. Notably, there is no mention of the Gift City project at Ayyampuzha near Angamaly in the budget.

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