The construction cost of a 1.2 mb/d refinery project to be jointly developed in India by Aramco and ADNOC has been revalued from US$45bn to US$70bn (+56%). The refinery will be built in the western state of Maharashtra, about 100 km south of Mumbai. No land has been secured yet for the project. When commissioned, the refinery will receive 600,000 bbl/d of Saudi and Emirati crude oil.
Indian companies IOC, BPCL and HPCL signed an agreement in 2016 on the construction of their 1.2 mb/d mega refinery project. The mega refinery project will be developped in two main stages: the first phase will have a capacity of 800,000 bbl/d, while the second phase will add another 400,000 bbl/d. When finalised, it will be the world’s biggest refinery and petrochemical complex. However, the project could be relocated due to local protests; in July 2019, the city of Raigad was mentioned as a potential future location.
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