Kerala Industrial Infrastructure Development Corporation (KINFRA) and Bharat Petroleum Corporation Ltd. - Kochi Refinery signed a memorandum of understanding (MoU) on Friday as part of the establishment of a petrochemical park on 482 acres at Ambalamedu here by 2024.
The agreement was signed in Thiruvananthapuram between Santhosh Koshy Thomas, managing director, KINFRA, and Subikash Jena, executive director (marketing), BPCL, in the presence of P. Rajeeve, Minister for Industries.
The project aims to develop a cluster of micro, small and medium enterprises (MSMEs) that use the propylene derivative by-products of BPCL - Kochi Refinery as raw material to manufacture consumer products, according to a release.
The land for the project at Ambalamedu was taken over by the government from FACT. Of the 482 acres, the government has leased out 171 acres to BPCL. Around 250 acres will be set apart for petrochemical units. KINFRA will provide water, power, waste treatment plant, GAIL piped natural gas, and other amenities.
