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.