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The Andhra Pradesh Government will sign a MoU for a major refinery and petrochemical complex with the Kuwait-based Al Qebla Al Watya (part of Al Kharafi Group).
The MoU envisages development of a petrochemical complex and a refinery on the East Coast for ensuring energy security and development of downstream and ancillary industries.
Al Qebla Al Watya has significant experience in oil and gas sector, including refineries and petrochemical complexes.
Both have agreed to initiate steps to fast track the project. Andhra Pradesh would extend support for facilitating this project.
Al Qebla Al Watya reaffirms its commitment to investing in this project and for exploring further avenues for investment in Andhra Pradesh in other sectors, according to a statement from the Chief Minister's Office.
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