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The Government of Kerala has accorded an in-principal approval to the Kerala Industrial Infrastructure Development Corp (KINFRA) to set up a petrochemical park in Kochi. The project cost estimated to be Rs 1,864 crore, including land cost and cost of internal infrastructure.
KINFRA intends to set up the park in 600 acre of land to be procured from FACT at Ambalamugal, Kochi, the company said in a statement.
The proposal assumes significance in view of the expansion proposal of BPCL, proximity to the port and natural gas infrastructure at the location, said M Beena, Managing Director, KINFRA.
Petrochemicals currently contribute about 30 per cent to India's $120 billion worth chemical industry, which is expected to grow at 11 per cent per annum over next few years and touch $250 billion by 2020.
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