Rs 1,300 crore petrochem park in Kochi back on track

Decks have been cleared for Kerala government’s Rs 1,300-crore petrochemical park project in Kochi, after the Centre’s nod for buying land from Central PSU Fertilisers and Chemicals Travancore (FACT). Even as the chairman of the Abu Dhabi National Oil Company (ADNOC), one of the world’s biggest petroleum firms, came forward to invest in the proposed Kochi petro-park, there was uncertainty over the project due to dilly-dallying on the land transfer. Last week, the state government has directed its infra-building outfit KINFRA to acquire 482 acre from FACT at Rs 977 crore .

“We have been asked to complete the land transaction, before October-end and expedite the project. Once the transaction is done, the design of the park will be finalised,” Santhosh Koshy Thomas, MD, KINFRA told FE.