In the pipeline LNG deadline revised 2016 too proved to be a non-starter year for the LNG pipeline project from Kochi to Mangaluru. However, a major development connected to the project did happen last year. The oil and natural gas regulator Petroleum and Natural Gas Regulatory Board (PNGRB) has revised the deadline for laying the Kochi-Koottanad-Bengaluru-Mangaluru natural gas pipeline network to February 2019. But now GAIL now says that it is committed to complete the project by the second half of 2018, ahead of the revised timeline.
In a letter to Gas Authority of India Limited (GAIL), which is tasked with the laying of the pipeline, dated December 8, PNGRB stated that the new schedule was announced considering the recommendation of Ministry of Petroleum and Natural Gas. The initial deadline for completion of the project was June 2015. GAIL had resumed work on the Phase-II of Kochi-Koottanad-Bengaluru-Mangaluru Pipeline in the state in October 2016. The IL&FS Engineering Services, which bagged the contract for the pipeline laying work, divided the entire 503-km pipeline project into four parts.
Kochi Refinery Expansion
Kochi Refinery expansion is part of BPCL’s D200 billion integrated refinery expansion project, which also includes a D50 billion petrochemical project to produce specialty chemicals. The work on its 15.5-million ton refinery expansion in Kochi is almost completed and the commissioning will take place in the fourth quarter. The Refinery may look at further increasing its capacity to 22 million tons (MT). “With land acquisition becoming one of the biggest hurdles in new projects, we may look at further increasing the Kochi capacity to 22 MT at a later stage as we have enough land there even after the ongoing D1650 billion work,” said a top official of BPCL.
Infopark Kochi’s ambitious second phase on 167 acres turned operational with the commissioning of the Cognizant campus. Once completed, the D25 billion project will have 8 million sq.ft. space, generating 80,000 jobs. Infopark Kochi, started the year 2016 by throwing open the first IT building on six acres with a total built-up area of 0.33 million sq.ft. at Koratty in Thrissur district. Another development is that World Trade Centre, Kochi with state-of-the-art infrastructure developed by Brigade Group with Kochi Infopark, was launched on the Infopark campus. The foundation stone for IBS Software campus on nearly five acres with a built-up area of 0.6 million sq.ft. was laid at Infopark.
Kerala Startup Mission
Year 2016 was significant for the startups in Kerala. The startup village in Kalamassery was taken over by Kerala Startup Mission. Now the government entity is trying hard to make an impact in the startup ecosystem in the country.
Larger drydock for Cochin Shipyard
The Cochin Shipyard is all set to receive an investment to the tune of D18 billion for the construction of a larger drydock at the yard and another D9.70 billion for the upcoming International Ship Repair Facility (ISRF) on the Cochin Port premises. The Shipyard had already received environmental clearance for both these projects. The proposed initial public offering (IPO) – stock market sale of 3,39,84,000 equity shares of Rs 10 each amounting to an equity capital of D339.84 million of the yard – to raise funds for both the projects. Even though the timeline for the IPO is not yet declared, the PSU major is all set to enter into the stock market in 2017. Zack Martin JerseyShare This