The State Cabinet has approved the draft shareholders’ agreement for the development of the Kochi-Palakkad hi-tech industrial corridor.
The Cabinet here on Wednesday also ratified the State support agreement for the project which is part of the Coimbatore-Kochi leg of the Chennai-Bengaluru industrial corridor.
Extending over a length of 160 km, the Kochi-Palakkad corridor includes six integrated production clusters. The cluster in the Palakkad region will primarily have food processing, rubber, electronics, general machinery and electrical machinery units.
The government expects the clusters to attract major investments and generate employment.
Assistance
The Cabinet meeting decided to approve the Kerala Urban Service Delivery Project which seeks to provide World Bank assistance for urban local bodies over and above the Plan funds. The World Bank has expressed willingness to provide $300 million on loan at 2% interest for a period of 25 years. The assistance is intended to resolve the urban solid waste management issue and establish sewerage and septage treatment plants.
Additional District Magistrate, Sabarimala, N.S.K Umesh will be appointed Deputy Secretary, Industries, with additional charge of Executive Director, Investment Cell, KSIDC.
