Trivandrum: The Kerala Industrial Infrastructure Development Corporation (KINFRA) has obtained the in-principal approval clearance from the Government of Kerala for setting up a Petrochemical Park in 600 acres of land to be procured from FACT at Ambalamugal in Kochi. The cost of project estimated is Rs. 1,864 crores, which includes the cost of land and cost of internal infrastructure.
Dr M Beena IAS, Managing Director, KINFRA said, “The Petrochemical Park is proposed in Kochi which already has a large refinery, fertiliser and chemical factories, LNG Terminal & Gas Pipeline Network being established, a Bulk Terminal and International Container Transhipment Terminal (ICTT). The proposal assumes significance in view of the expansion proposal of BPCL, nearness to the Port and Natural Gas infrastructure at the location.”
BPCL Kochi Refinery is already undertaking expansion of its refining capacity from 9.5 MMTPA to 15.5 MMTPA. With the increased crude capacity of 15.5 MMTPA, the refinery will produce 5, 00,000 TPA propylene. This is in addition to the production of various fuels like LPG, HSD, Kerosene, ATF, Coke, Bitumen, etc. Utilizing the 5, 00,000TPA Propylene, BPCL plans to establish JV Companies for production of various base materials. They would thus result in a boost to manufacturing, augmentation of exports and generation of employment.
Many industrial houses have approached for establishing Petrochemical production units in view of the imminent availability of raw materials. Considering the potential for industrialisation in the Chemicals and Petrochemicals sector
The infrastructure facilities required to be created include internal roads, drainages, water treatment plants, internal water supply system, internal electrification, common sewage treatment plants, common effluent treatment plants, rain water harvesting, solid waste management, etc.
India’s petrochemical industry has been one of the fastest growing industries in the Indian economy. Huge investments made in the petrochemical space bode well for the growth of this segment, besides there is a steadfast growth in the production activity of the main petrochemicals. Petrochemicals currently contribute about 30 per cent to India’s $120 billion worth chemical industry which is likely to grow at a CAGR of 11 per cent over next few years and touch $250 billion by 2020.
Kerala Biz News