Maharashtra Government Identifies New Site For $44 Billion Saudi Aramco-ADNOC Oil RefineryCM 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).

Initially, the refinery had been proposed to be built at Nanar, a village in the Ratnagiri district, some 400 km south of Mumbai. Later, the state government changed the plans as thousands of farmers protested fearing that the development could damage the region famous for its Alphonso mangoes, vast cashew plantations and fishing hamlets.

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.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement