"It is a huge project. The estimated capital of this Make in India project is Rs 4,588 crore and is proposed to be located near the refinery at Kochi. It was unnecessarily pending. We immediately cleared on Friday," Union Environment Minister Prakash Javadekar said.
According to state-run Bharat Petroleum Corporation Ltd (BPCL), the proposed Propylene Derivatives Petrochemical Project (PDPP) consists of three major process units – acrylic acid, oxo-alcohol and acrylates.
"About 329 KTPA of products will be manufactured from 250 KTPA of Propylene feed stock in the PDPP complex. Matching Utilities and off-site facilities are also envisaged as part of the project," the company said.
The land required for the project is approximately 132 acres -- 118 acres towards plant facilities and green belt development for presently envisaged products and 14 acres for related future products.
"Land acquisition activities have been completed. The estimated cost of the project is approximately Rs 4,588 crore. This includes cost towards environmental management and Corporate Social Responsibility," BPCL said.
PDPP complex will be set up close to the refinery to achieve integration of feedstock supply, utilities, offsites and other facilities.
"The project is expected to achieve mechanical completion in the first quarter of 2018. The Refinery/Petrochemical complex will become a pacesetter in safety, environmental compliance, reliability, energy efficiency and operating cost," the company said.