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The National Industrial Corridor Development and Implementation Trust (NICDIT) has approved to develop Kochi Global Industrial Finance and Trade (GIFT) City as an early bird project under Kochi-Bangalore Industrial Corridor.
The GIFT City will come up in 220 hectares in Aluva, a strategic location in the vicinity of Cochin International Airport Ltd.
The objective is to bring in investment to the tune of ₹1,600 crore for the development of trunk infrastructure. The Global City Project is planned with the financial / business centre as an integral part and growth driver for the city complemented with knowledge-based industries. It will provide an integrated ecosystem for development of globally competitive hi-tech services and financial hub.
“We are planning to complete the land acquisition by February 2021. Master planning agency will start work from early September this year and end by February 2021. Activities like MoEF clearance, tenders etc will start in March 2021 and will be completed by May-June 2021.” said Alkesh Kumar Sharma, Additional Chief Secretary-Industries (KBIC) who is also heading the Special Projects in Kerala.
The master planning activities will be completed in eight months and construction work will start after the selection of agency for construction through a transparent bidding process, he added.
The State government has accorded administrative sanction for establishing and developing GIFT City. It has also sanctioned an amount of ₹540 crore for the acquisition of land which will be its share in the project, he added.
The project will put Kochi on the global map as a destination with state-of-the-art infrastructure. The investment will be able to provide a boost to the development process in the region. This project will act as a catalyst for development, bringing in additional investments and will provide huge direct and indirect employment.
NICDIT will contribute towards requisite technical, financial and managerial resources and other manpower available, mainly through hiring consultants, to undertake programme management, proposal preparation and promotion of industrial development.
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