The Left Democratic Front (LDF) government’s progress report for the year 2021-22 unveiled by Chief Minister Pinarayi Vijayan here on Thursday promises to implement the Capital City Regional Development programme involving the construction of a 78-km-long road on the eastern side of the district from Vizhinjam to Navayikulam along with the creation of infrastructure facilities to attract big investments.
The project envisages the creation of knowledge hubs, industrial parks, tourist centres and townships on 10,000 acres on both sides of the six-lane road. The report says the company to be set up for the project would procure the land at market price from those willing to sell their property. The price would be given as land bond or in cash.
Those unwilling to sell their land can be part of a land pooling mechanism under which they will be assured of a four-fold increase in land value in 10 years. The company will provide basic infrastructure in the land acquired and hand it over to investors. According to the progress report, the project is expected to attract ₹25,000 crore investment and create 2.5 lakh direct employment opportunities.
