Latest news with #KIIFB
Time of India
7 days ago
- Business
- Time of India
Construction of Nayarambalam fish market will be completed in 10 months: Cherian
Kochi: The construction of Nayarambalam fish market will be completed in 10 months, said fisheries minister Saji Cherian. He was speaking at the inauguration ceremony on Monday. K N Unnikrishnan, Vypeen MLA, presided over the event. He mentioned that the modern fish market is a milestone for the entire constituency, especially for the development of Nayarambalam. The MLA also explained that installing synthetic geo tubes on the shores of Njarakkal, Nayarambalam and Pallippuram will enhance economic and safety standards of the fishermen. Nayarambalam fish market is being reconstructed with modern facilities at a cost of Rs 2.76 crore. After years of delays due to various reasons, the reconstruction is now being carried out with financial assistance from KIIFB, under the execution of state coastal development corporation. Considering the development potential of the fish market, the new building will have an area of 406sqm over two floors. The first floor, with an area of 274 sqm, will include 10 stainless steel fish stalls, a freezer room, a preparation room for cleaning fish, five toilets, a toilet for differently-abled individuals and an auction hall covering 110sqm. The second floor, with an area of 132 sqm, will house an office, a restroom and a quality control room.
Time of India
7 days ago
- Business
- Time of India
Kochi-Palakkad industrial corridor: Kerala govt grants funds for land acquisition
Kochi: The govt granted sanction for Rs 70 crore to Kinfra for land acquisition for the Kochi-Palakkad Hi-tech Industrial Corridor project, which is part of Kochi-Bangalore Industrial Corridor (KBIC). The fund will be used for the repayment of the loan funded by Kerala Infrastructure Investment Fund Board (KIIFB). Earlier, Kinfra requested the govt to release Rs 200 crore for the 2025-26 financial year for this purpose. The govt accorded comprehensive administrative sanction for the hi-tech corridor project at Rs 2,608 crore towards the total cost required for the payment of the loan funded by KIIFB for land acquisition. The order granting sanction of Rs 70 crore states that the latest fund is being released based on certain conditions. KBIC will cover 2,060 acres in the state, with two nodes: Industrial Manufacturing Cluster (IMC) in Palakkad and Global City (formerly Gift City) in Ayyampuzha, Ernakulam. The cabinet committee on economic affairs, chaired by PM Narendra Modi, approved the development of 12 new industrial corridors, including Palakkad IMC, under National Industrial Corridor Development Programme (NICDP) last year. The proposed Global City, planned to be developed on 350 acres in Ayyampuzha, is awaiting central approval.
The Hindu
21-07-2025
- Business
- The Hindu
Desilting and Restoration of Chilavannoor, Market canals to begin shortly
The desilting and restoration work on the Chilavannoor Canal, worth ₹8.40 crore, is set to get under way shortly under the Integrated Urban Regeneration and Water Transport System (IURWTS). The restoration of the Market Canal is also likely to begin shortly. The work has already been tendered and will be executed using ₹28.77 crore allotted by the Kerala Infrastructure Investment Fund Board (KIIFB). The State Cabinet, in May, gave its nod for implementing the IURWTS in Kochi, aimed at reviving six canals, at a revised estimate of ₹3,716.10 crore. The project is intended to make the canals navigable and provide a lasting solution to flooding in the city during the rainy season. Kochi Metro Rail Limited (KMRL) will continue as the special-purpose vehicle for the initiative, while the Kerala Water Authority (KWA) has been appointed as the implementation agency for the sewerage components. Funding for the project will be ensured through the KIIFB and the National River Conservation Directorate. Mayor M. Anilkumar said the works launched under the canal rejuvenation programme were making rapid progress. 'The Kochi Corporation and KMRL will jointly organise a review meeting of the project, which will also be attended by Industries Minister P. Rajeeve. The main objectives of the project include strengthening the water transport system, landscaping and constructing walkways along the canal banks, removing accumulated silt to improve water quality, and restoring water flow and the aquatic ecosystem,' he added. The construction of a higher-capacity sewage treatment plant at Elamkulam is set to get under way shortly. The KWA is the executing agency for the project, which is estimated at ₹341.97 crore. 'A proposal for the beautification of the Chilavannoor Canal banks — including a walkway and seating arrangements — had been submitted to the KIIFB for approval,' said Mr. Anilkumar. Runoff from around the Kaloor International Stadium eventually reaches the Chilavannoor Canal. The bridge along Subhash Chandra Bose Road is narrow, and ₹4.71 crore has been allocated for its reconstruction. The work has been re-tendered as the amount quoted in the initial tender was higher than estimated. The construction of Bund Road has been completed at a cost of ₹38.17 crore. 'Works worth around ₹100 crore are likely to be completed this year, and the rest of the project estimated at ₹3,716 crore could be completed in a couple of years,' said Mr. Anilkumar. 'Sewage outlets draining into canals will be completely sealed helping to prevent the accumulation of silt and reducing the need for frequent desilting. Waterlogging will be addressed to a great extent sparing the city from mosquito infestations. Canal tourism projects are also expected to become a reality. Canal rejuvenation is the second biggest project in Kochi after the resolution of the waste management issue at Brahmapuram,' he added.
Time of India
19-07-2025
- Business
- Time of India
Relief ahead for Thiruvananthapuram's eastern suburbs as road upgrade gains pace
Thiruvananthapuram: Kerala Road Fund Board (KRFB) has granted technical sanction for the second phase of the Vazhayila–Nedumangad road development project, covering the Karakulam to Valicode stretch. Tired of too many ads? go ad free now This section is now cleared for tendering, and the long-awaited upgrade is one step closer to easing travel for residents of Thiruvananthapuram's eastern suburbs. KRFB is expected to float the tender within two weeks, pending approval from the Kerala Infrastructure Investment Fund Board (KIIFB), which is likely within the next week. Once approved, tendering and construction are expected to begin without delay. Minister for food and civil supplies and local MLA, G R Anil, confirmed the development. "The tender for the second reach is moving ahead at a fast pace. Once KIIFB gives cost concurrence, the tender will be floated by the end of this month," he told TOI. He said the first phase of the project, stretching from Vazhayila to Karakulam is nearing completion and is expected to be opened to the public by Dec 2025. The second reach from Karakulam to Valicode is targeted for completion and opening by March 2026, while the third and final stretch, from Valicode to Nedumangad town, is slated for tendering in Sept and is expected to become operational by May 2026. Under the current regulations, at least 80% of land acquisition payout must be completed before a tender can be floated. For the second phase, around 90% of compensation has already been disbursed to affected landowners, effectively clearing a key procedural hurdle. The entire Vazhayila–Nedumangad corridor upgrade, spanning approximately 12km, is one of the most ambitious road development efforts currently underway in the district. Tired of too many ads? go ad free now Once completed, it is expected to significantly decongest traffic on the existing narrow stretch, improve commute times and boost economic activity in the suburban regions of the capital. This is also part of the Thiruvananthapuram-Tenkasi interstate highway. The project faced several delays over the years due to challenges in land acquisition, fund approvals and alignment changes. However, with the KIIFB-backed funding mechanism now in place and compensation procedures nearly complete, the project is finally moving forward at an accelerated pace. Locals have welcomed the developments, expressing hope that the road, once widened and modernised, would not only ease daily travel but also reduce accident rates, which have been a persistent concern along the current alignment. The upgraded road will also support improved public transport connectivity and is expected to serve as a crucial feeder corridor for traffic heading toward Nedumangad, Aryanad, Vithura and Ponmudi, a key tourist destination in the region. KIIFB is funding the project and the KRFB is the implementing agency. The govt previously sanctioned Rs 338.53 crore for the project, with Rs 279.31 crore allocated for road work and Rs 59.22 crore for land acquisition.
New Indian Express
19-07-2025
- Business
- New Indian Express
Kochi canal rejuvenation project gains momentum
KOCHI: Kochi Mayor M Anilkumar on Friday said the canal rejuvenation programme started under the Integrated Urban Regeneration and Water Transport System (IURWTS) project is gaining momentum. The Rs 3,716 crore project includes revitalisation of six major canals in Kochi, inland transportation and tourism. 'The project aims to strengthen water transport systems, construct attractive landscaping and walkways along canal banks, improve water quality by removing accumulated waste in the canals, make water flow smooth, and protect the aquatic ecosystem,' Anilkumar said. The Rs 8.4-crore project prepared for the cleaning of Chilavannur canal is set to be launched, he said, adding that the plan for the beautification of the banks of the Chilavannur canal has been submitted for KIIFB approval. 'The plan is to create a walkway and beautiful public spaces along the banks. The stream flowing from the international stadium joins the Chilavannur stream. The Chettichira bridge on Subhash Chandra Bose Road is very narrow, and thus Rs 4.51 crore has been spent on its reconstruction,' he said. The Kochi corporation and the Kochi Metro Rail Limited (KMRL) have also decided to organise a meeting on the project. It will be attended by Industries Minister P Rajeeve and other people's representatives.
