The much-anticipated Global City project, proposed on 358 acres in Ayyampuzha as part of the Kochi-Bangalore Industrial Corridor (KBIC), has been put on hold by the central govt. The decision comes after concerns were raised that the project's focus was more on residential and real estate developments than on industrial undertakings, as stipulated in the regulations.
Global City was intended to complement the industrial manufacturing cluster (IMC) in Palakkad, which received final approval from the Cabinet committee on economic affairs six months ago. While Palakkad IMC recently saw the state cabinet transfer 105 acres of land, the Ayyampuzha project—the second node of KBIC—remains stalled despite initial central approval and Hudco showing interest to fund the project.
The project was envisioned to include IT hubs, financial institutions, electronic firms, schools, hospitals, and office complexes. Authorities also proposed extending Phase III of the Kochi Metro from Aluva to Nedumbassery and further to Global City.
Additionally, with Ayyampuzha's tourism potential, the project aimed to create a tourism hub. However, central authorities expressed reservations about the project's deviation from the core industrial focus. "A resolution requires collaborative discussions between the state and central govts," said a top official of the industrial department.
With land acquisition nearing completion, calls for state intervention to revive the project are growing. However, successful implementation requires substantial central govt support, necessitating immediate intervention to revive the project. D Dhanuraj from the Centre for Public Policy Research (CPPR) warned that delays in such mega projects could deter investors.
