Amerind Petroleum Pvt. Ltd. has inked an MOU with the Andhra Pradesh government to establish an INR 12,000 crore refinery complex near Visakhapatnam in the PCPIR, BL reported. The company plans to relocate an existing US refinery.
Amerind has a technical collaboration with the American Industrial Corporation- a consortium of 14 US companies, to set up a petroleum refinery with initial capacity of 7.5 mln tpa of crude (150,000 bpd). To be set up on a turnkey basis by AIC, in phase I, it is proposed to relocate an existing running refinery acquired for INR 2,525 crore (about US$ 505 mln). In phase II, this would be expanded to 15 mln ton along with the setting up of INR 8.611 crore petrochemical complex.