Indian consortium and Saudi Aramco sign MoU for Ratnagiri refinery

The refinery will be capable of processing 1.2 million barrels of crude oil per day

GN Bureau | April 23, 2018


#Saudi Aramco   #Ratnagiri Refinery   #IOCL   #BPCL   #HPCL   #PSU  

An Indian consortium of IOCL, BPCL and HPCL and Saudi Aramco inked a memorandum of understanding (MoU) to jointly develop and build an integrated refinery and petrochemicals complex, Ratnagiri Refinery & Petrochemicals Ltd (RRPCL) in Maharashtra. Saudi Aramco may also seek to include a strategic partner to co-invest in the project.

The strategic partnership brings together crude supply, resources, technologies, experience and expertise of these multiple oil companies with an established commercial presence around the world.

The refinery will be capable of processing 1.2 million barrels of crude oil per day which means 60 million metric tonnes per annum. It will produce a range of refined petroleum products, including petrol and diesel meeting BS-VI fuel efficiency norms. It will also provide feedstock for the integrated petrochemicals complex, which will be capable of producing around 18 million tonnes per annum of petrochemical products.

A pre-feasibility study for the refinery has been completed, and the parties are now finalising the project’s overall configuration. Following the signing of the agreement, the parties will extend their collaboration to discuss the formation of a joint venture that would provide for joint ownership, control and management of the project.

RRPCL will rank among the world’s largest refining and petrochemicals projects and will be designed to meet India’s fast-growing fuels and petrochemicals demand. The project cost is around Rs 3 lakh crore or USD 44 billion.
 

Comments

 

Other News

What makes Sundargarh the cradle of hockey in India

Neha Lakra, 20, doesn’t forget to practise hockey, at least for four hours, every day. Whether at home or at the Panposh sports hostel in Rourkela where she is training under the guidance of coaches, her routine doesn’t change. “I can’t sleep unless I have worked on the ground,&rdqu

Where the true sadhana of Vedanta is to be found

Somewhere Among the Stars: Reflections of a Mystic By Adi Varuni Kali/BluOne Ink, 282 pages, Rs 395 Decades ago, when an unknown N

India celebrates National Voters’ Day

The 13th National Voters’ Day was celebrated across the country Wednesday with president Droupadi Murmu gracing the national event held here. Kiren Rijiju, union minister for law & justice, was the guest of honour. The chief election commissioner, Rajiv Kumar, election commissioners Anup Chandra

INS Vagir to give fillip to Navy: Admiral Hari Kumar

The Indian Navy commissioned its fifth stealth Scorpene class Submarine INS Vagir on Monday at the Naval Dockyard, Mumbai in the presence of Admiral R Hari Kumar, Chief of the Naval Staff. Vagir was launched on November 12, 2020, under Project 75 (P75) and post completion of sea trials it w

Uddhav joins hands with Prakash Ambedkar ahead of BMC polls

Ahead of the Mumbai civic polls, former Maharashtra chief minister Uddhav Thackeray on Monday announced an alliance with Prakash Ambedkar`s Vanchit Bahujan Aghadi (VBA). Addressing a joint press conference, Thackeray said their grandfathers, Keshav Thackeray and Dr. B.R. Ambedkar, were conte

How women leaders enable collective action at local level

Ela R. Bhatt, the founder of SEWA, once said, “There is ample proof to demonstrate that women can and do build strong and vital organizations around issues that relate to them, and find viable solutions out of their own experiences.” Women Leadership Schools (WLSs) promoted by Se

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter