Amerind Petroleum (Amerind) proposes to set up a neaÂrly Rs120 billion petroleum refinery near Visakhapatnam, in joint technical collaboration with the US-based American Industrial Corporation (AIC).
The refinery to come up in Petroleum, Chemicals and Petro-chemicals Investment Region (PCPIR) near the coastal city of Visakhapatnam, will have an initial refining capacity to process 7.5 million tonne of crude oil per annum (or 150,000 barrels per day) and will produce the entire range of petroleum products.
A memorandum of understanding (MoU) between the Andhra Pradesh government and Amerind to set up the refinery was signed in the presence of the state Chief Minister N Kiran Kumar Reddy.
The first phase of the project would be set up on turnkey basis by AIC by relocating an existing and running refinery acquired by it in the US.
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