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RE: AIC purchase USEC Refinery to Relocate India Visakhapatnam/Andhra

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Charles Randall

Got this Update from a friend who had it forwarded from India.
Not surprised to hear that some of the smaller US refineries could get chopped up and shipped overseas – that’s what happened to all of our ammonia plants (although it was high NG prices, not environmental controls, that killed them).
I have never heard of American Industrial Corporation .
I have seen few different versions of this hit web -and sounds like AIC just set up the MOU Govt-Andhra, got a AIC bank loan $375MM …. but AIC has yet to purchase the US Refinery.
Several India news I saw was speculating it was small “operating” New York Refinery @ 7.5 MM mtpy (~150 MBPD) for $505 Million ….. after relocation/startup (assuming $375MM for purchase that would leave $130MM for logistics/re-construction/profit). Also intend double to 15 MM mtpy in Phase II after its relocated – as your article also states.
Anyone have firm news/idea which US refinery falls prey to this?  The 150 MBD NY Refinery ~ could be any one several USEC: Sunoco Westville NJ – idled 150MBD, Sunoco Markus Hook NJ 175MBD sale -S/D 2011, or COP Delco/Trainer – s/d sell 4Q11 185 MBD?
India has been doing this relocation move with few CA & EU refineries (here is exhert from one last India Refinery Coker updates):

Its been busy year for India Expansions & Coker additions either starting construction, commissioning or cokers first full year operation including some EU relocated 2nd Hand Refineries (Mobil Woerth, BP-Bayeroil Ingolstadt & Petrocanada Oakland) to India’s NOLC Cuddalore, CAL-Spice Energy Halida & Packastan Karachi Refineries.
Also cokers added at BPCL Bina & Kochi refineries, IOC-CPCL Chennai, IOC Koyali, Essar Reliance & Essar Vadinar and IOC Barauni Needle Coker.
Charles E. Randall
Mobile: 281-813-2669

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