Public sector oil firms IOC, BPCL, HPCL and EIL will invest Rs 1.5 lakh crore in setting India’s biggest refinery on the west coast, Oil Minister Dharmendra Pradhan said.

Indian Oil Corp, the nation’s biggest refiner, will build a 60-million tonne a year oil refinery in Maharashtra along with Bharat Petroleum Corp Ltd (BPCL), Hindustan Petroleum Corp Ltd (HPCL) and Engineers India LtdBSE -0.10 % (EIL), Pradhan said in a twitter post. “Refinery to be built in 2 phases (40+20 million tonnes); 1st phase will have more than Rs 1 lakh crore investment (biggest in India),” he said.

http://economictimes.indiatimes.com/industry/energy/oil-gas/iocbpclhpcl-to-invest-rs-1-5-lakh-crore-to-set-up-biggest-refinery/articleshow/50729360.cms

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