Indian Consortium and Saudi Aramco Sign MoU for Refinery in Maharashtra

An Indian consortium consisting of IOCL, BPCL and HPCL signed an MoU with Saudi Aramco on the sidelines of the16 International Energy Forum Ministerial.

According to the Minister for Petroleum and Natural Gas, Dharmendra Pradhan, the project cost is estimated at around Rs3 lakh crore ($44 billion). The refinery will be capable of processing 1.2 million barrels of crude oil per day (60 million tonnes per annum). The plan is to finish the project by 2025.

Source- The Hindu Business Line