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Indian Majors Link in Refinery/Petchems Project

04:43 EDT 20 Jun 2017 | CHEManager

Major state-owned companies Indian Oil, Bharat Petroleum and Hindustan Petroleum have signed an agreement to build what they say will be one of the world’s largest integrated refinery and petrochemicals complexes. Indian Oil is reported to be taking a 50% stake in the joint venture, with the other two groups taking 25% each. The 60 million t/y greenfield refinery complex will be built in the Ratnagiri district of Maharashtra state with commissioning expected by 2022. Costs in the project are estimated at $40 billion.

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