The Ratnagiri mega refinery and petrochemical complex project is likely to be set up in Babulwadi, a small village located in Rajapur taluk, Ratnagiri district, Maharashtra. The refinery will be set up at two locations in Ratnagiri, with the 14,000 acre main complex at Babulwadi and 1,000 acre storage and port facilities about 15 km away from the main location in the coastal area. The project management consultant, Engineers India Limited, has started initial studies in the area for setting up the refinery. The three government oil marketing companies (OMCs) – IOCL, Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) – are planning to jointly set up the mega refinery which will be built in two phases with a total capacity of 60 mtpa or 1.2 million barrels per day (bpd). The first phase will have a capacity of 40 mtpa with an aromatic complex, naphtha cracker unit and a polymer complex, and the second will have a capacity of 20 mtpa.