Fertilisers and Chemicals Travancore (FACT) and Kerala government has signed memorandum of understanding to set up a Rs 1,800-crore petrochemical park in Kochi. The pact targets to make the port city a hub in the country’s petrochemical production chain and create 3,000 direct jobs. The MoU was signed in Thiruvananthapuram, in the presence of Kerala chief minister Pinarayi Vijayan, by FACT chairman and managing director (CMD) S K Lohani and additional chief secretary (Industries and Power), Paul Antony, said a release by Chief Minister’s office. The proposed complex will come up in 481 acre land.