Saudi Aramco to partner Indian firms in building the world’s largest refinery and petrochemical complex at Ratnagiri in Maharashtra

The Saudi Arabian Oil Company (Saudi Aramco) will partner with a consortium of Indian state-run refiners to set up the world’s largest refinery and petrochemical complex at Ratnagiri in Maharashtra at an investment of $44 billion. Saudi Aramco will hold a 50 per cent stake in the consortium, while the other half will be held by IOCL (25 per cent),  Bharat Petroleum Corporation Limited (BPCL) (12.5 per cent) and Hindustan Petroleum Corporation Limited (HPCL) (12.5 per cent). The refinery will have the capacity to process 1.2 million bpd of crude oil and 18 mtpa of petrochemical products.