Kerala Chief Minister Pinarayi Vijayan on February 9 laid the foundation stone of the Petrochemical Park, which will come up on 481.79 acres of land at Ambalamugal in Kochi. Laying the foundation stone through video conference, the Chief Minister said the Petrochemical Park would change the perception that Kerala is not an industry-friendly state.
“The government was accepting investors with open arms and would provide all the necessary assistance,” he said.
The park is coming up on land acquired by the state government from FACT, a central public sector undertaking. The Petrochemical Park comes under the Industries Department in collaboration with Bharat Petroleum Corporation Limited (BPCL). Two hundred and twenty nine acres of land will be available in the petrochemical park for industrial ventures. The government has allotted about 171 acres at present on lease for the development of BPCL. A green belt will come up in 33 per cent of the land, as per the guidelines of the Union Ministry of Environment.
The Kerala Industrial Infrastructure Development Corporation (KINFRA) will provide the basic facilities at the park, including the supply of 12 million litres of water per day, electricity, pollution control plant, GAIL gas pipeline and waste treatment system. The Rs 300 crore park will complete in 30 months. The petrochemical park has major investment potential by the automobile industry and industries dealing with building materials, plastics, pharmaceutical products, textile products and cosmetics. The park will get a new dimension with the Kochi-Bangalore Industrial Corridor becoming a reality.