Hyderabad: The International Petroleum Investment Company of Abu Dhabi will depute a technical team of experts for the identification of a suitable location for setting up a refinery in Andhra Pradesh.
During the CII Partnership Summit 2012 held in Hyderabad in January, the BR Shetty Group of Abu Dhabi had entered into a memorandum of understanding with the Andhra Pradesh Government, for setting up a petroleum refinery at an investment of $6 billion (about Rs 30,000 crore).
Dr J. Geetha Reddy, AP Minister of Industries, along with Mr T.S. Appa Rao, Principal Secretary Industries, and Mr Karikal Valaven, Commissioner of Industries, met Mr Khadem A. Al Qubaisi, Managing Director of International Petroleum Investment Company, owned by the Abu Dhabi Government, and Dr B.R. Shetty, recently, as a follow up.
According to a Government statement Mr Al Qubaisi has expressed keen interest in establishing a petroleum refinery in Petroleum, Chemical and Petrochemical Industrial Region (PCPIR) of Andhra Pradesh coming up in the Kakinada-Vizag corridor.
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