Centre Releases Rs 3 Bn for Palakkad Industrial Smart City

30 Oct 2025 CW Team

The Central Government has released the third instalment of Rs 3.2 billion for the Palakkad Industrial Smart City Project, a flagship node of the Kochi–Bengaluru Industrial Corridor.

The latest allocation has been made to the Kerala Industrial Corridor Development Corporation (KICDC), while the State Government has transferred an additional 316 acres of land for the project. With this, the total central assistance has reached Rs 6.13 billion, and the State has cumulatively handed over 646 acres, together accounting for nearly 45 per cent of the total project cost and land requirement.

The KICDC, a Special Purpose Vehicle (SPV) jointly formed by the Kerala Industrial Infrastructure Development Corporation (KINFRA) and the National Industrial Corridor Development and Implementation Trust (NICDIT), is implementing the project with equal equity participation from both partners.

A high-level review meeting held recently in Kochi resolved to expedite groundwork and fast-track implementation. The meeting was attended by APM Mohammed Hanish, Principal Secretary (Industries); Rajit Saini, MD & CEO of NICDIT; Santosh Koshi Thomas, MD of KICDC; and representatives from the Dilip Buildcon–PSP Projects Joint Venture, which has been awarded the infrastructure development contract. The Project Management Consultant team also participated in the discussions.

Officials confirmed that the project agreement will be signed within the month, with preliminary construction work set to begin immediately thereafter.

Kerala has emerged as the first state in India among the 12 proposed Industrial Smart Cities to complete the tendering process for infrastructure development. Earlier, the State Government, through the Kerala Infrastructure Investment Fund Board (KIIFB), had invested Rs 14.89 billion to acquire 1,450 acre of land for the project.

The latest fund release follows Industries Minister P Rajeev’s detailed presentation to Union Minister for Commerce and Industry Piyush Goyal in June 2024, highlighting the State’s progress in corridor-related activities.

The Palakkad Industrial Smart City Project is expected to serve as a major industrial and logistics hub, driving economic growth and employment opportunities in the region while strengthening Kerala’s position in India’s industrial corridor network.

News source: Swarajya

The Central Government has released the third instalment of Rs 3.2 billion for the Palakkad Industrial Smart City Project, a flagship node of the Kochi–Bengaluru Industrial Corridor.The latest allocation has been made to the Kerala Industrial Corridor Development Corporation (KICDC), while the State Government has transferred an additional 316 acres of land for the project. With this, the total central assistance has reached Rs 6.13 billion, and the State has cumulatively handed over 646 acres, together accounting for nearly 45 per cent of the total project cost and land requirement.The KICDC, a Special Purpose Vehicle (SPV) jointly formed by the Kerala Industrial Infrastructure Development Corporation (KINFRA) and the National Industrial Corridor Development and Implementation Trust (NICDIT), is implementing the project with equal equity participation from both partners.A high-level review meeting held recently in Kochi resolved to expedite groundwork and fast-track implementation. The meeting was attended by APM Mohammed Hanish, Principal Secretary (Industries); Rajit Saini, MD & CEO of NICDIT; Santosh Koshi Thomas, MD of KICDC; and representatives from the Dilip Buildcon–PSP Projects Joint Venture, which has been awarded the infrastructure development contract. The Project Management Consultant team also participated in the discussions.Officials confirmed that the project agreement will be signed within the month, with preliminary construction work set to begin immediately thereafter.Kerala has emerged as the first state in India among the 12 proposed Industrial Smart Cities to complete the tendering process for infrastructure development. Earlier, the State Government, through the Kerala Infrastructure Investment Fund Board (KIIFB), had invested Rs 14.89 billion to acquire 1,450 acre of land for the project.The latest fund release follows Industries Minister P Rajeev’s detailed presentation to Union Minister for Commerce and Industry Piyush Goyal in June 2024, highlighting the State’s progress in corridor-related activities.The Palakkad Industrial Smart City Project is expected to serve as a major industrial and logistics hub, driving economic growth and employment opportunities in the region while strengthening Kerala’s position in India’s industrial corridor network.News source: Swarajya

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

Infrastructure Urban

06 Apr 2026

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

Infrastructure Energy

06 Apr 2026

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..