Maharashtra Mega Refinery Project With Aramco In Trouble: Report
NDTV
Hurdles in land purchases are one of the key reasons for sluggish infrastructure development in Asia's third-largest economy.
India is considering building several refineries instead of a single mega plant planned with Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), due to challenges in acquiring land, three sources familiar with the matter said.
Hurdles in land purchases are one of the key reasons for sluggish infrastructure development in Asia's third-largest economy.
Aramco and ADNOC joined a consortium of state-run firms in 2018 to set up a 1.2 million barrels-per-day coastal refinery and petrochemical plant in western Maharashtra, seeking a reliable outlet for their oil.
Delays in acquiring a 15,000-acre land parcel have almost stalled the project, initially planned for 2025, and boosted costs by 36% to $60 billion, as per estimates made in 2019.
