KOCHI: The Fertilisers and Chemicals Travancore Limited (FACT) and the state government will sign a memorandum of understanding on Wednesday to hand over FACT land for the upcoming petrochemical park at Ambalamugal. The fertiliser company will hand over 470 acres of land to the state government. The land will be handed over before March 31, 2018, said Additional Chief Secretary Paul Antony here on Monday.
With BPCL Kochi Refinery successfully completing its Integrated Refinery Expansion Project (IREP), it will be able to produce propylene in large quantity – 5 lakh tonnes per annum- which will be the feedstock for the upcoming Propylene Derivative Petrochemical Project (PDPP). With PDPP becoming a reality specialty petrochemicals such as acrylic acid, butyl acrylate, ethyl hexyl acrylate, normal butanol, iso butanol and ethyl hexanol will be available for downstream industries for manufacturing a range of products such as acrylic paints, solvents, coatings, adhesives and resins.
The petrochemical park is developed by the Kerala Industrial Infrastructure Development Corporation ( KINFRA) in association with the BPCL Kochi Refinery and the Kerala State Industrial Development Corporation(KSIDC). A total of 40 acres in the park has been earmarked for pharma companies More than 200 investors attended the investors' meet organised by the KINFRA and KSIDC in Kochi. "The investors' meet is the first step where investors were briefed about opportunities. There was a good response from companies. This will be followed by follow-up meeting'' said a senior officer of the KSIDC.