Kochi, Sep 24 (PTI) Kerala Industrial Infrastructure Development Corporation (KINFRA) and Bharat Petroleum Corporation Limited (BPCL) on Friday signed a Memorandum of Understanding for co-operation in the petrochemical park project to be set up by KINFRA.

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The MoU for the park was signed by KINFRA MD Santosh Koshy Thomas and BPCL Marketing Executive Director Subhikash Jena in the presence of Industries Minister P Rajeeve at Thiruvananthapuram and is slated to be completed by 2024.

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"The park, which is coming up in the 481 acre at Ambalamugal near here, aims at the industrial and economic growth of the state along with job creation," the state government said in a release.

BPCL, a major player in the petrochemical industry, has been allotted 171 acre land for the project while in 250 acres, other petrochemical industrial units will function.

The state government said these industrial units will function using the raw materials supplied by the BPCL.

Industries Department secretary K Ilangovan, Director S Harikishore, BPCL Kochi Refineries Executive Director Sanjay Khanna, among others, were present during the signing of the MoU.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)