By SNV Sudhir
Visakhapatnam, Mar 12, 2013: Silence on the much hyped, Rs 12, 000
cr worth, petro chemical complex proposed to be set up by Amerind Petroleum Pvt
Ltd in Petroleum Chemical Petrochemical Investment Region (PCPIR) is raising
many eyebrows.
Adding fuel to the speculations and allegations that the
project has ample scope for money laundering, there was no follow up either
from the company representatives or the state government on setting up the
project.
Amerind Petroleum Pvt Ltd has inked a MoU with the state
government on Nov 17, 2011 to establish an Rs 12,000 worth crore refinery
complex near Vizag in the PCPIR. The
company planned to relocate an existing US refinery. According to US Environment
Protection Agency (EPA), it is a 64 year old polluting refinery.
Special package of incentives as per Industrial Promotion
Policy 2010-15, industrial clearances and approvals through Single Window
Clearance in a time-bound period was offered to Amerind. To help the company in
the initial marketing, tie-up support with the public sector oil
companies, IOCL and BPCL was also
considered besides procurement of land for the project through APIIC in the
PCPIR region.
But now, highly placed sources in the APIIC said they never
received any directions or further orders from the state government on the
project work or to acquire requited land for the refinery. “Strangely none from
the Amerind approached us or we received any directions from our higher ups on
the project. We heard it from the news reports in 2011 that government signed
such a MoU for setting up the refinery and after that there was no follow up
from the either side,” a senior official of the APIIC who is in the know of
PCPIR project developments told this correspondent.
Former union energy secretary EAS Sarma, who filed an
application before the industry department under RTI Act seeking copies of the
file notings and the correspondence on the subject earlier was surprised to
understand the casual manner on the part of the state government to sign the
MoU for the project.
“Government should have not rushed into permitting a
fly-by-night operator to shift an obsolete refinery in USA to Vizag area, creating an enormous scope
for money laundering and shifting toxic pollution from New
Jersey in USA
to Vizag,” he opined.
Sarma said that according to the file notings the department
was also clueless about the background of the promoter of Amerind, Syed
Badruddin.
Amerind Petroleum had nothing to show by way of experience
in oil refining or in any important economic activity. Amerind had no audited accounts to show.
“A small time company promoted by a small time operator
proposing to set up a large oil refinery in the state would have raised doubts
in the mind of any prudent government official. The fact that it did not in the
instant case shows that either the officials were incompetent or outright
dishonest,” Sarma pointed.
The funding for the project was also raised a many doubts
when the US Exim Bank Chairman, Fred
Hochberg, during a visit to Hyderabad in Jan last year confirmed that the bank
had issued a Letter of Interest to Amerind, but has not yet confirmed grant of
loan. Amerind had earlier stated that the project was being funded by the US
Exim Bank. The company has a technical collaboration with the American Industrial
Corporation, which is a consortium of 14 US companies to set up the refinery
with initial capacity of 7.5 million tones.
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