Indian Consortium and Saudi Aramco ink pact for Ratnagiri Refinery – Feedback

Indian consortium consisting of Indian Oil Corporation (IndianOil), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) have entered a memorandum of understanding (MoU) with Saudi Aramco, petroleum and natural gas company in the Kingdom of Saudi Arabia.

The companies have inked a MoU to jointly develop and build an integrated refinery and petrochemicals complex at Ratnagiri, Maharashtra. Saudi Aramco may also bring in a strategic partner to co-invest in the refinery project. IndianOil alongwith BPCL and HPCL had incorporated a joint venture company, Ratnagiri Refinery & Petrochemicals (RRPCL) to jointly develop and build the said complex at Ratnagiri.

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