Saudi Aramco Approaches Government of India for Land Allotment
Saudi Aramco is seeking approval of the Indian government over obtaining land in Maharashtra for its proposed INR 4 lakh crore mega refinery and petrochemicals complex. The associated consortium warned that the project will be stuck if the government is unable to allot the land in the next few months. The consortium has been offered an alternative site at Roha in Raigad, Maharashtra, as per its recent talks with the Indian government. Saudi Aramco and Abu Dhabi National Oil Company hold 50% stake in the project while the rest is held by IOCL, HPCL and BPCL. IOCL holds 25% stake in the project while HPCL and BPCL hold 12.5% stake each. Ratnagiri Refinery & Petrochemicals Company Ltd (RRPCL) is working towards the establishment of the world’s largest integrated refinery- cum-petrochemicals complex. RRPCL has mandated U.S.-based consultant Jacobs Engineering Group Inc. to design the configuration of the refinery project.