Hindustan Petroleum, which is a minority partner in the proposed West Coast Refinery, feels Saudi Aramco, the single largest shareholder in the 60 million tonne project, partnering with Reliance will have no impact on the now-stuck project.
Mukesh Surana, the chairman of the ONGC-run HPCL, also said the work on the controversial Rs 4 trillion refinery and petrochemicals project is on track. It can be noted that the location for the project is yet to be identified after the one identified earlier in Ratnagiri was abandoned due to public and political protests last year.
Speaking to reporters on August 21 after the AGM, Surana said Aramco’s decision to pick up a 20 percent consideration in Reliance’s Jamnagar refinery for USD 15 billion could be part of the world’s largest oil company’s strategy to secure a long-term client for its crudes. Read More
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