The government will come up with a Special Investment Region Act for the development of the Special Investment Region (SIR) along the 80-km four-lane Outer Ring Road (ORR) from Vizhinjam to Parippally for hassle-free cargo traffic to the upcoming Vizhinjam international deepwater seaport.
The new legislation is being worked out and will be introduced after the forthcoming elections to the Lok Sabha, convenor of the Capital Region Development Programme (CRDP) T. Balakrishnan told a press meet convened here on Thursday. At the meet, he announced a conference of the Confederation of Indian Industry (CII) on “Port-Led Industrialisation & Community Development-Leveraging Vizhinjam” in the capital on February 18. Mr. Balakrishnan said the area within 2.5 km on either side of the ORR would be designated as SIR, which would be developed as per the special legislation.
Service road
It would have a dedicated administrative mechanism, including provision for value capture. The ORR, which will commence from the south of the capital and end at Parippally, will have a 10-metre-wide service road on either side and a right of way of 70 m. The CRDP convener said the upcoming Vizhinjam seaport would be a catalyst for development along the proposed ORR.
Besides enabling the safe entry and exit of cargo from the seaport, the proposed ORR would cater to an industrial township which will come up in phases in 400 sq km.
Chairman of the CII, Thiruvananthapuram zone, M.R. Narayanan said the conference would serve as a business summit for international and national investor communities.
It will provide an opportunity for policy-makers and other officers in the government to interact with the business community and understand their requirements.
The port-led industrialisation will attract high-tech coastal zone manufacturing and processing, direct and indirect employment to the region and new opportunities. Benefits await tourism, fisheries and agriculture sectors. Mr. Narayanan said it would lead to cumulative economic cash flow of ₹28,485 crore in a few decades.