The Union government has approved the Fertilizers and Chemical Travancore (FACT) to sell 481 acres of land to the state government of Kerala for setting up a petrochemical park. The Kerala state government will have to spend around INR 9000 Million to purchase the land.

This project is valued at INR 12000 Million and will bring in industries that use propylene derivatives like oxo-alcohols, acrylates and acrylic acid.  

These derivatives are obtained as by-products from the propylene derivatives petrochemical project of BPCL Kochi refinery. The refinery will also set up major units from the derivatives obtained from this petrochemical park.

In India, currently Andhra Petrochemicals Limited is the only manufacturer of oxo-alcohols but this scenario could change with the development of the park.