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Saudi Aramco to buy 50% stake in $44-bln oil refinery in Maharashtra

Press Trust of India  |  New Delhi 

Saudi Aramco, the world's largest oil producer, will buy 50 per cent stake in the mega USD 44-billion in

A memorandum of understanding (MoU) to this effect was signed on sidelines of the International Energy Forum (IEF) conference here.

Saudi Oil Minister, Khalid A. Al-Falih, said is a priority destination for Saudi investment and Aramco will continue to scout for opportunities beyond the refinery.

will supply half of the 60 million tonne capacity, he said.

State-owned IOC, BPCL and will hold the remaining 50 per cent stake in the project.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 11 2018. 11:35 IST
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