KOCHI: Amid criticism that major businesses are not coming up in Ernakulam district, KINFRA is planning to set up a Rs 1,200-crore petrochemical industrial park at Amabalamugal. The project is slated to come up on 481.79 acres purchased from FACT and is expected to be completed in 28 months.
Once completed, the park is expected to generate employment for nearly 11,000 people, with a possible investment from it is around Rs 10,000 crore, said an official. The authorities calculate there is potential for value addition through downstream industries that can utilise the feedstock from the petchem complex. Most of the raw materials — such as chlorine, formaldehyde — required for downstream industries are available in and around the area.
The work planned in the first phase include the main access road, internal roads, water distribution system, power distribution system, admin building, firefighting arrangements, compound wall and gate, and treated water supply from the KINFRA Export Promotion Industrial Park in Kakkanad. The estimated cost for the first phase is Rs 151.93 crore. “Mary Matha Infrastructures has been selected as the contractor. The deadline for the first phase is July 2024,” an official with the project said.
The work on the second phase will begin towards the end of the first phase. An effluent treatment plant and the development of pharma and healthcare zones will happen in the second phase. Industries Minister P Rajeeve will inaugurate the construction work on Wednesday.
Major boosts
Boon for Kochi
“Already, nearly 20 investors have bought space in the park and more are expected,” said Santhosh Koshy Thomas, managing director of KINFRA. “Kochi is already running short of industrial areas. The MoU signed between the Kerala government and BPCL regarding the cost-effectiveness of feedstock and policies will attract more investors. The industrial water supply scheme of KINFRA, the construction of which has started, will be an added advantage,” he said.