(PTI)
The world’s biggest oil refinery -cum-petrochemical complex planned in Ratnagiri district of Maharashtra will cost Rs 2.7 lakh crore and take 60 months to build, Oil Minister Dharmendra Pradhan said today. State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) are building the integrated complex with a refining capacity of 60 million tonnes per annum at Babulwadi, Taluka Rajapur, Ratnagiri district.
“The proposed refinery will produce gasoline (petrol) and diesel suitable for BS-VI (equivalent to Euro-VI emission norms). The refinery will be designed with flexibility in processing wide varieties of crude as well as flexibility in product mix,” the minister said in a written reply to a question in the Lok Sabha.
The three firms on June 14 signed a joint venture agreement to form a company, West Coast Refinery and Petrochemical Ltd for implementation of the project. “Order of magnitude of cost estimated for the project is Rs 2.70 lakh crore and the share of IOC, BPCL and HPCL is in ratio of 50:25:25 respectively,” he said.
