Kerala's infrastructure investment board gives nod for projects worth ₹743 crore

The Kerala Infrastructure Investment Fund Board (KIIFB) has approved 32 new projects worth ₹743.37 crore during its 51st board meeting on November 18. This brings the total number of approved projects to 1,147, valued at ₹87,378.33 crore. The new initiatives include significant developments such as a Digital Science Park in Thiruvananthapuram and a Carbon Neutral Coffee Park in Wayanad, alongside various projects in public works, tourism, and healthcare.

So far, KIIFB has spent ₹31,379.08 crore on approved projects, with ₹18,423.5 crore already. Kerala Infrastructure Investmenty completed. In addition, the board gave in-principle approval for more projects, including the acquisition of land for an industrial growth triangle.

Vizhinjam-Kollam-Punalur project 

One of the major initiatives approved was the creation of an industrial corridor linking Vizhinjam, Kollam, and Punalur, known as the economic triangle. The project is expected to boost the state's economic growth by integrating key industrial zones with efficient transport and logistics hubs.

The Kerala government has initially allocated ₹1,000 crore for the project, with the first phase set to begin soon. The land pooling method, through negotiated purchases, will be used to acquire the required land. This initiative is a significant step towards transforming Kerala into a port-based economy, anchored around the Vizhinjam Port.

Global level industrial ecosystem

Finance Minister KN Balagopal stressed that the growth triangle, spanning an area of 1,456 sq km across Kollam and Thiruvananthapuram, will enhance the operational efficiency of the Vizhinjam Port and create a seamless integration of industrial and transport hubs. The project is designed to establish an industrial ecosystem that will compete on the global stage, leveraging the state’s natural and infrastructural strengths.