India: Project Update 40 Billion Dollar Ratnagiri Refinery Relocates to Raigad
Protests by locals in the Ratnagiri region have led the Mahrashtra Government in India to relocate the gigantic project to the neighbouring district of Raigad. The new site is around 10,000 acres and is being identified as a better option than the former Ratnagiri land.
India – The 40 billion dollar Ratnagiri refinery project in India is making headlines once again. This time it’s regarding the location of the project. Owing to protests by the locals who feared that the project may damage the natural habitat in the region, the Maharashtra state government decided to relocate the project to the neighboring district of Raigad.
The new land is expected to be around 10,000 acres and is being identified as a better option than the former Ratnagiri land. Initially, the mega project was anticipated to be commissioned by 2022 however, now the deadline has been pushed to 2025.
Ratnagiri Refinery and Petrochemicals Ltd (RRPCL) which is implementing this project is a joint venture between the Indian Oil Corporation (IOCl), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL). Saudi Arabian Oil Company – Saudi Aramco and the Abu Dhabi National Oil Company (Adnoc) are also partners for this project and own 50 % stake in the mammoth project. The remaining 50 % is shared by the Indian consortium.
Capable of processing 1.2 million barrels of crude oil per day (60 million metric tonnes per annum), the project will produce a range of refined petroleum products, including gasoline and diesel meeting BS-VI fuel efficiency norms. In addition to this, higher quality automotive and aviation fuels benchmarked to international standards such as the Euro-VI along with a range of petrochemical products will also be produced at the complex.