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

Reuters  |  NEW DELHI 

By Nidhi Verma, Promit Mukherjee and Florence TanNEW DELHI (Reuters) - Saudi Aramco on Wednesday signed an initial deal with a consortium of Indian refiners to build a $44 billion refinery and petrochemical project on India's west coast, as the kingdom moves to secure buyers for its crude in a market awash with oil.Top executives of Aramco and India's Ratnagiri Refinery & Petrochemicals - 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 ...

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First Published: Thu, April 12 2018. 08:45 IST