Dear Sri. Ananth Kumarji,
We are grateful to be considered as one of the 6 Pharma Parks to be established in the country. Kerala is a major consumer state for pharma products, with 17% by value of the national consumption whereas the production in the state is less than 0.5% which is quite insignificant compared to the demand. As a result, Kerala is dependent on other states for its huge requirement of pharma products.
Though around 3000 pharmacists are registered through pharmacy council every year, only 1% of them have employment opportunities within the state. If more industries come up in the pharma sector employment opportunities for these professionals will increase substantially. Therefore in order to ensure abundant availability of pharma products and to enable pharmaceutical industry in the state to play a leading role in the country, Kerala State Industrial Development Corporation Ltd (KSIDC), promotional agency of Government of Kerala is keen to establish a state-of-the-art Pharma Park with quality infrastructure in Kochi in line with the policy of Government of India to set up Pharma Parks in the country.
Fertilizers And Chemicals Travancore (FACT) is having about 620 acres of un-utilized land in Ambalamedu, Kochi. Out of this, an extent of 170 acres has been earmarked for BPCL expansion project. Around 450 acres of balance land is available with FACT. It is proposed that a Special Purpose Vehicle (SPV) with FACT and KSIDC as shareholders, may be formed, wherein the cost of land will be treated as the equity of FACT and KSIDC can invest in creating basic infrastructure facilities like internal roads, power, water etc to develop the land into a prime industrial area where the Petrochemical complex and the proposed Pharma park can be located. The land is proposed to be allotted to prospective entrepreneurs and FACT will be able to recoup the entire cost of the land from the lease premium on such allocation.
I take this opportunity to invite your kind attention for formation of SPV between FACT and KSIDC and transfer 300 acres of land owned by FACT to the SPV for setting up the Pharma Park.
With warm regards,
Shri. Ananth Kumar
Minister for Chemicals & Fertilisers
Department of Chemicals & Petrochemicals
344, A-Wing, 3rd Floor