Kuwaiti firm to build refinery, petro chemical complex in Andhra
news Saturday, February 14, 2015 - 05:30
The News Minute | February 14, 2015 | 7:50 am IST The government of Andhra Pradesh will sign a MoU with Kuwait-based Al Qebla Al Watya for a major refinery and petro chemical complex. The MoU envisages development of petro-chemical complex and a refinery on the east coast for ensuring energy security and development of downstream and ancillary industries and employment, said a government statement. Al Qebla Al Watya, part of Al Kharafi Group, has significant experience in oil and gas sector, including refineries and petro-chemical complexes. The company has "shown interest" in establishing crude petroleum refinery and petro-chemical complex on the central coast of Andhra Pradesh. The two sides agreed take all necessary steps for the establishment of a crude refinery and petro chemical complex in a fast track and expeditious manner. The Kuwaiti firm will invest in this project and will also exploring further avenues for investment in other sectors in the state, the statement added. IANS Tweet Follow @thenewsminute
Show us some love and support our journalism by becoming a TNM Member - Click here.