KPC mulls India refinery complex - reports
06 December 2007 13:19 [Source: ICIS news]
MUMBAI (ICIS news)--Kuwait Petroleum Corp (KPC) is mulling the building of a refinery and petrochemical complex in India in partnership with a local company to feed Asia's rising demand, local media reported on Thursday.
KPC was in talks with Reliance Industries Limited (RIL), Indian Oil Corp (IOC) and other unnamed companies regarding the project, the reports in The Economic Times and Bloomberg added.
Both KPC and Reliance were unavailable for comment when contacted by ICIS news, however.
KPC was looking at a joint-venture project with Reliance or another Indian partner, the company's CEO Saad Al-Shuwaib reportedly said.
The proposed project could have the capacity to process as much as 400,000 bbl/year of oil and about 1m tonnes/year of chemicals used for making plastics and textiles, according to the reports.
By: Divya Chowdhury
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