(ET)
Several international and local companies including Mitsubishi Corporation, BASF and Manali Petrochemicals have evinced interest in setting up units in the petrochemical park being set up in Kochi jointly by the Kerala government and Bharat Petroleum Corporation.
The park will house micro, small and medium downstream petrochemical units that can use raw materials available from BPCL Kochi Refinery’s upcoming propylene derivative petrochemical project (PDPP). The first phase of PDPP involves an investment of Rs 5,200 crore and will be completed in 2019.
A memorandum of understanding will be signed with FACT Ltd by the end of this month to acquire 489 acres in Kochi from the public sector company, Kerala Industrial Infrastructure Development Corporation (Kinfra) managing director KA Santhosh Kumar said. BPCL Kochi Refinery will be the anchor investor, owning 150 acres.
