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OMCs to formalise plans to make world's largest refinery complex

Oil Minister said first phase of complex will be built with an investment of Rs 1 lakh crore

IANS  |  New Delhi 

OMCs to formalise plans to make world's largest refinery complex

The on Tuesday said the three state-run marketing companies (OMCs) propose to formalise plans to set up the world's largest refinery-cum-petrochemicals complex located on the country's west coast.

The three state-owned -- Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- will sign a joint venture agreement for the creation of the proposed complex on Wednesday.

Last year, the disclosed that the three will build a 60 million tonne per annum refinery along with a petrochemicals complex in Maharashtra.

In 2016, Petroleum and Natural Gas Minister tweeted that the first phase of the complex will be built with an investment of more than Rs 1 lakh crore.

The minister said at that time that the refinery will produce petrol, diesel, LPG, ATF and feedstock for petrochemicals plants used in plastic, chemical and textiles industries.

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