Kerala Chief Minister Pinarayi Vijayan laid the foundation stone for Petrochemical Park at Ambalamugal in Kochi and said the Rs 300 crore Park, will change the perception that the state was not industry friendly. The park is expected to be completed within 30 months.
The park, coming up on 481.79 acres of land acquired by the state government from Fertilisers and Chemicals Travancore (FACT), a central public sector undertaking, is being set up by the Industries Department in collaboration with Bharat Petroleum Corporation Limited (BPCL).
About 229 acres will be available in the petrochemical park for industrial ventures and at present.
BPCL has been allotted 171 acres on lease and 33 per cent of the land will be retained for establishment of a green belt.
The Kerala Industrial Infrastructure Development Corporation (KINFRA) will provide the basic facilities at the park which includes supply of 12 million litres of water per day and supply of 11 and 33 kilowatts of electricity as well as pollution control plant, GAIL gas pipeline and waste treatment system.
KINFRA has received 17 applications for starting business ventures and all these applications have been approved by the district level allotment committee.