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Cost of India refinery project with Aramco, ADNOC estimated at $70 billion

In September, India's oil minister said the refinery would cost more than the originally planned $45 billion.

Aramco | ADNOC | Oil refinery

Reuters  |  Riyadh 

The cost of a giant oil and petrochemicals refinery project to be built jointly by Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC) in India is expected to reach $70 billion, WAM news agency reported on Wednesday. A joint economic council between the United Arab Emirates and Saudi Arabia reviewed the planned plant on Wednesday at a meeting on the sidelines of Saudi Crown Prince's visit to his Gulf ally. "The initial cost is estimated at $70 billion," a statement said. The 1.2 million barrels-per-day (bpd) coastal refinery in the western state of Maharashtra is ...

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First Published: Thu, November 28 2019. 00:53 IST