MOSCOW (MRC) -- Kerala Industrial Infrastructure Development Corp. (KINFRA), a statutory body of the government of Kerala, has received in-principle approval from the state to set up a petrochemical park at Kochi in India's Kerala State, reported Apic-online with reference to the Times of India.
The project, estimated to cost Rs 1864 crore, is expected to be built on land procured from the FACT complex at Ambalamugal.
Now that the project has received approval from the state, "the next step will be to procure 600-acre land from FACT for the project," said the report quoting KINFRA Managing Director Dr. M. Beena. "That decision is pending for the Union Cabinet approval," Dr. Beena added.
Petrochemicals currently account for approximately 30% of India's USD120-billion chemical industry, which is likely to grow 11% in the coming years and reach USD250-billion by 2020.
PCN last year reported that Bharat Petroleum Corp. Ltd. (BPCL) received Environment Ministry approval to expand BPCL's refinery in Kochi to produce niche petrochemicals that were predominately being imported.
The project involves the production of acrylic acid acrylates and oxo alcohols, with production scheduled to begin during fiscal 2018-2019. The facility is expected to receive polymer-grade propylene feedstock from BPCL's nearby refinery, which is currently being expanded to 15.5-million t/y from 9.5-million t/y.
The petrochemical park assumes significance in view of the proposed expansion of BPCL, proximity to the port and the availability of natural gas infrastructure, the report noted.
We remind that, in January 2016, BPCL selected Air Liquide Global E&C Solutions, the engineering and construction unit of French firm Air Liquide group, for supplying Lurgi/Nippon Kayaku ester grade acrylic acid technology for BPCL’s propylene derivatives petrochemical project (PDPP) located in Kochi.
Bharat Petroleum Corporation Limited (BPCL) is an Indian state-controlled oil and gas company headquartered in Mumbai, India. Bharat Petroleum owns refineries at Mumbai, Maharashtra and Kochi, Kerala (Kochi Refineries) with a capacity of 12 and 9.5 million metric tonnes per year.