Kochi: Chief Minister Pinarayi Vijayan said on Monday that the government will appoint a committee to study the possibility of taking over FACT if the Centre does not take steps for the revival of the PSU. He said this while interacting with the FACT union leaders. The Chief Minister also said that the state government was proceeding with the steps to set up a petrochemical complex after buying 600 acres of unutilized land belonging to FACT. He requested the unions to co-operate with the project which will invite investment worth Rs 1200 crore and give employment to thousands of people.
He warned them that this project sanctioned by KIIFB will be lost if not implemented fast. He also said that the State Government had bought the land at rates fixed by the Collector. The meeting was attended by among others Industries Minister A C Moideen, K Muraleedharan MLA, Industries Additional Chief Secretary Paul Antony, TU leaders K N Raveendranath, K Chandran Pillai and CP John. K N Raveendranath said that FACT products have great scope and making any investment in the company would not be a waste. He also pointed out the PSU has great assets.
