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Govt raises cost of refinery project with Aramco by 36% to $60 bn: Report

The project cost at the signing of a deal with Saudi Aramco in 2018 was pegged at $44 billion

Saudi Aramco | Aramco

Nidhi Verma | Reuters 

The Centre has increased the cost estimate of a giant refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36 per cent, after protests by farmers forced the relocation of the plant, four sources said. The 1.2 million barrels-per-day (bpd) coastal refinery in the western state of Maharashtra is now expected to be built at Roha in the Raigad district, about 100 km (62 miles) south of Mumbai. The new cost estimate of $60 billion for the refinery was given to Saudi Arabia’s energy minister Khalid al-Falih at a meeting ...

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First Published: Tue, August 06 2019. 15:43 IST