Saudi Aramco Eyes Stake In Rs 1.8 L-cr Maha Oil Refinery


Saudi Aramco Eyes Stake In Rs 1.8 L-cr Maha Oil Refinery

Saudi Aramco, the world’s largest oil company, is interested in acquiring a stake in India’s proposed Rs 1.8 lakh-crore refinery in Maharashtra and a Rs 33,000-crore petrochemical complex in Andhra Pradesh, Oil Minister Dharmendra Pradhan said on Friday.

After talks with Saudi Arabia’s Energy Minister Khalid Al Falih, he said the oil major is also interested in partnering in the second phase of strategic oil reserves India plans to build shortly.

“We have moved beyond mere envisaging of interest and now modalities are being discussed,” he said without elaborating. Read More…

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