Tue Nov 19 12:43:55 UTC 2024: ## Kerala Announces Ambitious ₹3 Lakh Crore Economic Development Plan
**Thiruvananthapuram, November 19, 2024** – The Kerala government unveiled an ambitious ₹3 lakh crore economic development plan centered around the Vizhinjam international seaport. The initiative, dubbed the Vizhinjam-Kollam-Punalur Industrial and Economic Growth Triangle, received in-principle approval from the Kerala Infrastructure Investment Fund Board (KIIFB) on Monday.
The project aims to create a “smart industrial ecosystem” by integrating transportation, logistics, and industrial parks, leveraging existing rail and road corridors. The government anticipates attracting the massive investment over three years, focusing on infrastructure, industrial corridors, and tourism development.
Spanning 1,456 sq km across Thiruvananthapuram and Kollam districts, the plan identifies key nodes along the Vizhinjam, Kollam Urban Centre, and Punalur roads. Seven key sectors are targeted for development: marine products processing and export, agriculture-based industries, IT/ITES and space, transportation and logistics, renewable energy, assembling units, and medical tourism/hospitality.
Land acquisition will utilize various methods, including land pooling, public-private partnerships, direct purchases, and land exchange. The establishment of special economic zones along the industrial corridor is also planned. The project will proceed in phases, encompassing feasibility studies, funding acquisition, and infrastructure development.
First Piper 