Russia’s largest petroleum company Rosneft on Tuesday committed to increasing its investments at its petrochemical unit in Vadinar refinery for the development of Nayara Energy project in Gujarat.
Minister of Petroleum and Natural Gas Dharmendra Pradhan met the Chief Executive Officer (CEO) of Rosneft, also the Former Deputy Prime Minister of the Russian Federation, Igor Sechin, and welcomed the initiative to increase its investments at their Vadinar refinery, assuring full support from the Government of India in facilitating their investments.
The consortium of foreign investors, including the Rosneft is reviewing an option of a two-fold increase of the refining throughput at Vadinar refinery. The first stage consortium commits to the investment of USD 850 million towards the building of a petrochemical unit at Vadinar within two years. Read More