Cochin, India – Polyol producer Manali Petrochemical has been linked to a new petrochemical park, to be built in Cochin and sponsored by the state of Kerala and Bharat Petroleum, according to The Economic Times.
The local newspaper said that the park will house micro-, small- and medium-sized downstream petrochemical units that will use raw materials from Bharat’s proposed propylene derivative project. This is set to open in 2019, after an investment of INR 52 bn ($806 m).
‘At present, several petrochemicals are imported and processed in states like Gujarat and Maharashtra and transported to Kerala. Since the units can be set up near the source of supply here, cost can be considerably reduced,’ said AN Sreeram, general manager-petrochem, BPCL Kochi Refinery, according to The Economic Times.
Recently, Manali shareholders approved a financial plan to raise $50m for a number of unspecified projects. The company is based in Chennai, in Tamil Nadu state, about 700km north-east of Cochin in South India.
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