The Ernakulam district administration has clarified that the proposed Kochi Global Industrial Finance and Trade City (GIFT City) project will adhere to the standards of eco-friendly development based on the criteria fixed by the Indian Green Building Council.
District Collector S. Suhas said in a statement here on Monday that a few residents of Ayampuzha had expressed apprehensions about the project. But the fears were ‘unfounded’, he added.
“There is no plan to set up factories or units that pollute the environment. No manufacturing industry will be set up. The entire project will be eco-friendly,” said the Collector.
Through the project, both the Union government and the State government are planning to bring in Indian and international knowledge-based industries and agencies with a focus on capital market, asset management, insurance sector, legal, accounting and audit management organisations, IT/ITES services, research development, hospitality, convention and entertainment businesses.
The project planning will b done in consultation with all stakeholders and the government has a clear and meticulous vision and plan. The project will bring in development and employment opportunities to the area. Apart from various knowledge-based organisations, there will be residential, shopping, and retail private equity agencies. The government will stress on developing intelligent, safe and smart buildings, he said.
The project was approved under the National Industrial Corridor Development and Implementation Trust (NICDIT) as an Early Bird Project under the Kochi Bangalore Industrial Corridor project.
The GIFT City is planned to be built on 220 hectares near Aluva in the vicinity of the Cochin International Airport. The aim of the project is to bring in investments for development of trunk infrastructure to the tune of ₹1,600 crore and give a boost to building PPP infrastructure to the tune of ₹18,000 crore over the next ten years.
The entire project is expected to create over 1.20 lakh direct and 3.6 lakh indirect employment opportunities and have a great multiplier effect on the State’s economy.