India: Petrochemicals Kuwait Firm to Establish 7 Billion Dollar Oil Refinery in Tamil Nadu, India
Tamil Nadu Chief Minister, K Palaniswami has recently stated that the Gulf organisation Al Kharafi is expected to set up an oil refinery and a petrochemical manufacturing facility in the southern Indian state.
Chennai/India – Kuwait based Al Kharafi plans to set up an oil refinery and a petrochemical manufacturing facility at an investment of approximately 7 billion dollars in Tamil Nadu, Chief Minister K Palaniswami said recently. The setting up of the refinery would see the southern districts in the state develop like Jamnagar in Gujarat and Jurong Island in Singapore, he added.
The Chief Minister said that 59 companies which signed MOUs with the state government in the second edition of the Global Investors meet in January last year, have commenced production. Another 213 projects are under various stages of implementation, he stated.