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Indian Oil and Aramco seek partnership for downstream project

by ChemOrbis Editorial Team - content@chemorbis.com
  • 09/05/2017 (11:51)
According to Reuters, India’s top refiner Indian Oil Corp. is in very early talks with Aramco regarding downstream investments, which include building a 1.2 million tons/year refinery in India’s west coast in order to meet the country’s growing fuel demand.

IOC and its partners are expected to make their final decision on the investment in the west coast by end 2018/early 2019, the reports revealed. The project also includes a 3 million tons/year ethylene unit, which is expected to be completed in five years.

Saudi Aramco aims to expand its overseas portfolio through new collaborations and investments in Asia, especially in India.
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