Abu Dhabi’s national oil company mulls investment in Kochi petrochemical complex

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Published: February 14, 2019 5:57:22 AM

Kerala chief minister Pinarayi Vijayan is in UAE to participate in the two-day Middle East Regional Conference of Lok Kerala Sabha, a diaspora outfit for the development of the state.

Abu Dhabi?s national oil company mulls investment in Kochi petrochemical complex

Abu Dhabi National Oil Company (ADNOC), one of the world’s largest petroleum firms, has offered to invest in the upcoming petrochemical complex in Kochi, Kerala chief minister Pinarayi Vijayan said on Wednesday. ADNOC Group CEO Sultan Ahmmed Al Jaber expressed his interest in the project during a discussion with the chief minister in Abu Dhabi. Vijayan is in UAE to participate in the two-day Middle East Regional Conference of Lok Kerala Sabha, a diaspora outfit for the development of the state.

“A joint task force will be formed, according to the understanding arrived at during the talks. This panel will study on the investment potential and then a team under Dr Sultan Ahmed Al Jaber will visit Kerala for follow-up procedures,” Vijayan wrote in his Facebook post on Wednesday. Chief minister said that India is top on the investment agenda of ADNOC and Sultan sees enormous potential in petroleum sector in India.

Indian high commissioner to UAE Navdeep Singh Suri, Kerala chief secretary Tom Jose, principal secretary- Industry K Elangoven, ADNOC acting CEO Mohammed Al Aryan and Lulu Group chairman MA Yousef Ali also took part in the discussions.

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Vijayan had called on the ADNOC chief in Abu Dhabi, seeking the company’s investment in Kerala’s infrastructure development. “I had told them the investment climate in the state was ripe and that land and other amenities for investment in petrochemical sector in Kochi were ready,” chief minister said.

Last month, while dedicating BPCL’s `16,504-crore integrated refinery expansion complex to the nation, Prime Minister Narendra Modi had also laid the foundation stone for a petrochemical complex at Kochi refinery.

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