The Fertilisers and Chemicals Travancore Limited (FACT) and the state government have joined hands for an upcoming petrochemical project.
As per a pact, the fertiliser company will hand over 470 acres of land to the state government. The land will be handed over before March 31, 2018, according to Additional Chief Secretary Paul Antony.
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. It is to be noted that BPCL Kochi Refinery has successfully completed its Integrated Refinery Expansion Project (IREP), which will be able to produce propylene in large quantity- five lakh tonnes per annum- which will be the feedstock for the upcoming Propylene Derivative Petrochemical Project (PDPP).
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