Help Desk -
9958816305, 9810335381
Email
Password

India Site Picked For Saudi Aramco & Adnoc's Oil Refinery In Raigad

Gasoil News - Published on Mon, 24 Jun 2019

Image Source: The Dispatch
Following farmer protests in India, Maharashtra Chief Minister, Mr Devendra Fadnavis, said that the government had identified a site in Raigad district, located 100 kilometer from Maharashtra's capital city, Mumbai, to carry out the development of a USD 44 billion refinery that Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation that Saudi Arabia's state-run Saudi Aramco and the UAE's Adnoc Group equally hold 50% stake in. City and Industrial Development Corporation plans to acquire land from 40 villages in Raigad for the refinery.

Initial plans for the project proposed its development in Nanar, a village within the Maharashtra state's Ratnagiri district, located 400 kilometer south of Mumbai, but farmer protests were held following concerns that their land in Nanar – known for Alphonso mangoes, cashew farms, and fishing colonies – would be damaged along the way.

The three Indian oil giants together own the remaining 50% stake in the project through Ratnagiri Refinery and Petrochemicals Ltd, their joint company that is backing the scheme.

According to Construction Week's sister title Refining & Petrochemicals Middle East, upon completion, the 1.2 million barrels per day project will help India secure steady supply of fuel.

Source :

Posted By : Sanju Moirangthem on Mon, 24 Jun 2019
Related News from Gasoil segment