September 13, 2023 10:42 GMT
India and Saudi Arabia to Accelerate West Coast Refinery Project
India and Saudi Arabia have agreed to accelerate Indian state-controlled refiner IOC's 1.2mn b/d West Coast Refinery project, according to Argus media.
- IOC's plans for a 1.2mn b/d refinery at Ratnagiri in west India's Maharashtra state have been complicated by land acquisition problems.
- However, India and Saudi Arabia will form a joint task force to and a monitoring committee to ensure progress on the refinery project, ministry of external affairs secretary Ausaf Sayeed said.
- The West Coast refinery project is set for a production capacity of around 1.2m b/d, about 60m mtpa and is touted to become the largest integrated refinery and petrochemical facility in the world.
- Even if finally approved, the refinery is not expected to come online in its forecast period (2022-2028), according to the IEA in a June report.