Saudi Arabia and India will cooperate to establish two refineries in the country. This announcement was made by both the countries after Prime Minister Narendra Modi’s visit to Saudi Arabia on Tuesday. This investment by Saudi Arabia in India is in line with the earlier commitment of $100 billion in many sectors. In a joint statement issued on Wednesday, both the countries said that investment will be made in energy, petrochemicals, infrastructure, technology, fintech, digital infrastructure and other sectors.
Saudi Aramco was highly interested in setting up the proposed West Coast Refinery in Maharashtra. But due to the very slow pace of work on the project, the government has prepared a fresh outline. This project is to be set up in Nanar region of Maharashtra.
This refinery was first announced in 2015. This $44 billion project has a unique target of 60 MMTPA. The previous Shiv Sena-controlled and BJP-led government in Maharashtra had changed its stand on the issue of this ambitious project several times. The result was that the government planned to set up refineries of relatively small capacity. Their capacity is 20 MMTPA.
First Published – April 23, 2025 | 11:17 PM IST
related posts
