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India, Saudi Aramco agree to partner on $44 billion refinery-petchem project

Reuters  |  NEW DELHI 

By Nidhi Verma, Promit Mukherjee and Florence TanNEW DELHI (Reuters) - Saudi Aramco and a consortium of Indian state refiners agreed to build a mega refinery and petrochemical project on India's west coast for an estimated $44 billion, oil officials at the signing of an initial agreement said on Wednesday. Top executives of Saudi Aramco and Ratnagiri Refinery & Petrochemicals (RRPL) - a joint venture of Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp - signed a memorandum of understanding to take equal stakes in the project in Maharashtra state. The project includes a 1.2 ...

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First Published: Wed, April 11 2018. 14:00 IST