The array of industrial units coming up at the petrochemicals park here, for which Chief Minister Pinarayi Vijayan laid the foundation on Tuesday, includes a logistics park, neopentyl glycol plant, PVC pipe-making and PVC foam units, besides a sulphur processing facility.
The petrochemicals park is coming up on 229 acres, acquired from the public sector Fertilizers and Chemicals Travancore (FACT) at Ambalamugal, close to BPCL’s Kochi refinery.
The concept of a petrochemicals park came up more than a decade ago with BPCL’s Kochi refinery deciding to expand capacity to 15.5 million units. Ever since, keen interest has been shown by industries across the globe in being part of the project in Kochi. Industries Minister E.P. Jayarajan on Tuesday issued letters of allotment under the ‘Early Bird Scheme’ to 17 units that had made proposals for investment in the park.
Among those issued letter of allotment is Cellaspace, promoted by the Sri Kailas Group. The group has been allotted 25 acres, on which it will build a plug-and-play space, spread over 6.5 lakh sq ft. The space will include storage for COVID 19 vaccines, company executive director Visakh Rajkumar said.
He said the logistics park, which involves an investment of around ₹180 crore, was a takeoff from the conventional space and would include space for assembly, repacking, and green manufacturing. It is expected to be the largest such storage facility in the State.
SPV formed
A communication said that the company had formed a special purpose vehicle (SPV) to complete the Kochi project and would increase Cellaspace’s portfolio of industrial/logistics space close to one million sq ft.
Ozone Life Private Ltd, a PVC foam board unit, is among those allotted space in the upcoming park. E.P. Shereef, who received the letter of allotment from the Minister, said the company had won recognition for its performance and expressed optimism to continue the good performance at the upcoming park.
ClearWaterBay Technology Pvt. Ltd. India, which has been allotted land in the petrochemicals park, proposes to build a manufacturing plant for neopentyl glycol. It is based in the United States and Hong Kong and provides integrated solution in the field of pharmaceutical and petrochemical and refining industries.