Kuwait firm to sets up Rs 49,000 crore oil refinery in TN
Tamil Nadu chief minister K Palaniswami on Thursday said Kuwait-based Al Kharafi will set up an oil refinery and a petrochemical manufacturing facility in the state with an investment of Rs 49,000 crore. With the building of the refinery, the southern districts of the state would see development like Jamnagar in Gujarat and Jurong Island in Singapore, he said.
The state cabinet on Monday had cleared the proposal to establish the oil refinery complex in Tuticorin which will produce BS-6 petroleum products, among others.
Delivering a speech at the foundation stone laying ceremony of DLF DOWNTOWN, for housing IT and ITeS companies here, the chief minister said China-based BYD Group also plans to make investments in the state.
