Two events have raised doubts about India’s plans to build the world’s largest refinery.
The 60 million tonne, $44 billion West Coast refinery project was announced in June 2018 in which Saudi Aramco and Abu Dhabi National Oil Company (Adnoc) hold 50 per cent and Indian oil marketing companies Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) hold the remaining stake. Since then, in August, Mukesh Ambani-led Reliance Industries (RIL) announced plans to sell 20 per cent stake in its chemicals and refining business …
Source: Business Standard
