Petrochemical park being set up in Kochi
ET Bureau|
Dec 12, 2017, 07.51 PM IST
The state government is organising a petrochemical investor meet in Kochi on December 18.
KOCHI: Several international and local companies including Mitsubishi Corporation, BASF and Manali Petrochemicals have evinced interest in setting up units in the petrochemical park being set up in Kochi jointly by the Kerala government and Bharat Petroleum Corporation.
The park will house micro, small and medium downstream petrochemical units that can use raw materials available from BPCL Kochi Refinery's upcoming propylene derivative petrochemical project (PDPP). The first phase of PDPP involves an investment of Rs 5,200 crore and will be completed in 2019.
A memorandum of understanding will be signed with FACT Ltd by the end of this month to acquire 489 acres in Kochi from the public sector company, Kerala Industrial Infrastructure Development Corporation (Kinfra) managing director KA Santhosh Kumar said. BPCL Kochi Refinery will be the anchor investor, owning 150 acres.
A pharmaceutical park spread over about 40 acres is also envisaged. "After GST launch, many pharmaceutical companies are looking to set up manufacturing facilities in Kerala as the state is a major consumer," Kumar said.
Kinfra has engaged consultants Voyants Solutions to prepare the detailed project report for the park. PDPP will make available speciality petrochemicals derived from propylene, which finds use in products like adult diapers, adhesives, plasticisers, water-based chemicals, foam and sealants.
"At present several petrochemicals are imported and processed in states like Gujarat and Maharashtra and transported to Kerala. Since the units can be set up near the source of supply here, cost can be considerably reduced," said AN Sreeram, general manager-petrochem, BPCL Kochi Refinery. The company has potential to produce 5 lakh tonnes of propylene.
The park will have common facilities like power, water, road and effluent treatment. Kerala State Industrial Development Corporation (KSIDC) will be the facilitator for the project. "We have entrusted Crisil to determine what type of units can come in the park. We will provide financial assistance to set up units with floating interest rates," said KSIDC general manager KG Ajith Kumar.
The state government is organising a petrochemical investor meet in Kochi on December 18.
The park will house micro, small and medium downstream petrochemical units that can use raw materials available from BPCL Kochi Refinery's upcoming propylene derivative petrochemical project (PDPP). The first phase of PDPP involves an investment of Rs 5,200 crore and will be completed in 2019.
A memorandum of understanding will be signed with FACT Ltd by the end of this month to acquire 489 acres in Kochi from the public sector company, Kerala Industrial Infrastructure Development Corporation (Kinfra) managing director KA Santhosh Kumar said. BPCL Kochi Refinery will be the anchor investor, owning 150 acres.
A pharmaceutical park spread over about 40 acres is also envisaged. "After GST launch, many pharmaceutical companies are looking to set up manufacturing facilities in Kerala as the state is a major consumer," Kumar said.
Kinfra has engaged consultants Voyants Solutions to prepare the detailed project report for the park. PDPP will make available speciality petrochemicals derived from propylene, which finds use in products like adult diapers, adhesives, plasticisers, water-based chemicals, foam and sealants.
"At present several petrochemicals are imported and processed in states like Gujarat and Maharashtra and transported to Kerala. Since the units can be set up near the source of supply here, cost can be considerably reduced," said AN Sreeram, general manager-petrochem, BPCL Kochi Refinery. The company has potential to produce 5 lakh tonnes of propylene.
The park will have common facilities like power, water, road and effluent treatment. Kerala State Industrial Development Corporation (KSIDC) will be the facilitator for the project. "We have entrusted Crisil to determine what type of units can come in the park. We will provide financial assistance to set up units with floating interest rates," said KSIDC general manager KG Ajith Kumar.
The state government is organising a petrochemical investor meet in Kochi on December 18.
