An MoU for setting up a ₹ 1,800-crore petrochemical park in Kochi, was inked by the Kerala government and fertiliser major FACT, owned by the Centre. It will come up in 481 acres of land owned by the Fertilisers and Chemicals Travancore, the State Government said.
The park was aimed at making Kochi, a hub in petrochemical production chain on par with Jurong in Singapore and industrial complexes in South Korea.
It was signed in the presence of Kerala Chief Minister Pinarayi Vijayan by FACT Chairman and MD SK Lohani and Additional Chief Secretary (Industries and Power) Paul Antony, on behalf of the Kerala government.