The second LNG project in Cochin is promoted by Petronet LNG and will receive natural gas of 5 million tone from Qatar and Iran and plans a total investment of 3000 crore. The project by Kochi Refineries Limited (KRL) on a single buoy mooring (SBM) will be starting soon. This project is supposed to help the refinery to drastically cut down crude shipment cost and is worth Rs 750 crores. A petrochemical complex at the Kochi division of FACT by using natural gas will be coming up soon. This initiative is proposed by the Gas Authority of India Limited (GAIL) with an investment of around 3500 crore. The other projects in the pipeline are the Kochi-Kannur-Bangalore gas pipeline which is estimated to cost about Rs 750 crore and an LNG supply network for Kochiites for domestic consumption. Smart city at Kakkanad is being set up by the Dubai Internet City in collaboration with the state government. This project marks the new era of IT development in Kerala. It is proposed to create about 33000 jobs with the help of all the major companies in the world. The Cochin shipyard is being transformed into one of the largest and most modern ship building centers in Asia in competition with Korea and Japan. The yard will be improved by providing more facilities and a new ship building unit will be established.
As a result of all these developments the real estate in Cochin has reached great heights. Builders now find Cochin as one of the best places for investment.
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