Indian majors plan mammoth refinery
India 
NEW DELHI, June 15, 2017 – Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) joined forces for the construction of a major refinery and petrochemicals complex in Maharashtra on Wednesday.
The joint venture endeavour, dubbed the West Coast Refinery Project, is planned for construction in the Ratnagiri district and carries a price tag of some USD 40 billion. The 60-million-tpy complex is scheduled for commissioning in 2022.
“Designed to produce Euro-VI and above grade transportation fuels, the refinery will have in-built flexibility for processing a wide spectrum of light and heavy crude oil grades, utilising various blending techniques,” an IOCL statement said. The facility will comprise 50 refining units.
Local media reported that IOCL will be heading the joint venture on a 50% stake, with BPCL and HPCL holding 25% each.
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