Aramco, ADNOC eye India’s largest refinery project
Aramco is interested in having a stake in the West coast refinery while ADNOC is interested in petrochemical segments, the reports revealed.
The new 1.1 million barrels/day refinery will be built by State-run Indian Oil, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) with an aim to meet the increasing fuel demand of the country. Indian Oil has 50% of the project while BPCL and HPCL own 25% each.
The new project will have two phases. The first phase, which is worth $18.58-23.22 billion, will have an 800,000 barrels/day aromatic complex, naphtha cracker and polymer complex while the second phase, worth $7.74-9.29 billion, will involve a 400,000 barrels/day refinery, the reports revealed.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Upsurge continues to wreak havoc on Turkey’s PP, PE markets
- PVC rally roars back in Asia as supply worries mount
- China PP, PE markets join global rally after Lunar New Year holiday
- PE, PP and PVC supply crunch exacerbated on US absence, traditional trade flows upended
- European PP, PE markets set for 5th bullish month as shortage bites
- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins