The Kerala Industrial Corridor Development Corporation (KICDC) on Thursday announced that the infrastructure development of the Palakkad Industrial Smart City, a key project under the Kochi–Bengaluru Industrial Corridor, will be implemented in a single phase.The KICDC, in a statement, said it has initiated preliminary steps in this regard. The first coordination meeting involving representatives of the contracting consortium Dilip Buildcon–PSP Projects and the National Industrial Corridor Development and Implementation Trust (NICDIT) is scheduled to be held next week.The project’s development works are expected to commence by the end of this month or early next month, said Industries Principal Secretary A.P.M. Mohammed Hanish.According to the KICDC, the Union government will release funds for the project in phases. Upon the Centre’s confirmation to release its share, the State government will transfer a proportionate share of the land acquired by the Kerala Industrial Infrastructure Development Corporation (Kinfra) to the KICDC. So far, the Centre has released ₹313.5 crore in two instalments, while the State has handed over 330 acres of land.The third instalment from the Centre is expected shortly, said Kinfra Managing Director Santosh Koshy Thomas.KICDC officials said Kerala is far ahead in the procedural timeline compared to the 12 Industrial Smart City projects being developed across the country, with tendering for infrastructure development already completed. The KICDC aims to complete the infrastructure development within 42 months and subsequently move to the stage of allotting land to companies. Although land transfer will be in phases based on Central fund availability, infrastructure development is planned to be completed in a single phase on the land already acquired, the KICDC said.Two years ago, the State government spent ₹1,489 crore through the Kerala Infrastructure Investment Fund Board (KIIFB) for the acquisition of 1,450 acres.The decision to extend the Chennai–Bengaluru Industrial Corridor to Kochi and establish the Kochi–Bengaluru Industrial Corridor was taken in August 2019. Kerala initiated procedures to implement the project in September 2020. By July 2022, 85% of the required land had been acquired. The acquisition of 1,152 acres was completed in just 14 months.The Palakkad Smart City development is being implemented through a special purpose vehicle, KICDC—jointly formed by Kinfra (State) and NICDIT (Central) with equal equity participation, the statement said.Published - October 09, 2025 09:49 pm IST