Ratnagiri refinery project to be delayed

January 2, 2019

The refinery-cum-petrochemicals project at Ratnagiri in Maharashtra is likely to be delayed by three years. Initially, the project was planned to be commissioned by 2022, but now the commissioning date is expected to be pushed out to 2025 on account of land acquisition issues. This 60 million tonne (mt) project is the world’s largest refinery. It has attracted an investment of Rs 3 trillion. For a 50 per cent stake in Ratnagiri Refinery and Petrochemicals Limited, the Saudi Arabian Oil Company and the Abu Dhabi National Oil Company have formed a JV with Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited (IOCL).