Saudi Aramco and ADNOC signed an MoU today to jointly develop and build an integrated refinery and petrochemicals complex at Ratnagiri in Maharashtra. The project will be implemented by Ratnagiri Refinery & Petrochemicals Ltd. (RRPCL).
Saudi Aramco had joined the project by signing an MoU with the Indian consortium on 11th April 2018 on the sidelines of the16 International Energy Forum Ministerial. Saudi Aramco also sought to include another strategic partner to co-invest in the project as an overseas investor.
RRPCL will rank among the world’s largest refining & petrochemicals projects and will be designed to meet India’s fast-growing fuels and petrochemicals demand. The project cost is estimated at around Rs.3 lakh crore (USD 44 billion).
Post a Comment