A Refinery is a production facility that refines various materials, beginning with raw materials and converting them to processed products. While we commonly think of Petroleum Refineries when we think of Refineries, there are many other types. These include Salt, Natural Gas, Sugar, Food Oil and Metal among others. These facilities are made up of a group of chemical engineering units that vary with each type of Refinery process. The properties are made up mostly of in place processing equipment containing a maze of pipes, tanks, pumps and other specialized equipment. These facilities are typically single purpose properties that have a narrow highest and best use. Appraisals of Refineries are largely equipment appraisals with land and buildings in addition.
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