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Maharashtra Government Identifies New Site For $44 Billion Saudi Aramco-ADNOC Oil Refinery
CM of Maharashtra Devendra Fadnavis (Shankar Narayan/Hindustan Times )
The Maharashtra Government has identified a new site for the planned $44 billion oil refinery that the public sector oil majors are building in partnership with Saudi Arabia's Aramco and United Arab Emirates’ Abu Dhabi National Oil Company (ADNOC), reports Economic Times.
The new site identified by the Government is in Raigad district which lies about 100 km south of the India’s financial capital, Mumbai. The information was made public by the state's Chief Minister (CM) Devendra Fadnavis on Wednesday (19 June).
The Saudi Aramco and ADNOC will have a 50 per cent stake in the Ratnagiri Refinery & Petrochemicals Ltd (RRPCL), the company that is building the project, while the remainder will be held by State run companies - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum.
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