Indian refinery project with Aramco, ADNOC at $70bn

02 December 2019

The cost of a giant oil and petrochemical refinery project to be built jointly by Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC) in India is expected to reach USD 70bn.

A joint economic council between the United Arab Emirates and Saudi Arabia reviewed the planned plant at a meeting on the sidelines of Saudi Crown Prince's visit to his Gulf ally.

The 1.2 million barrels-per-day (bpd) coastal refinery in the western state of Maharashtra is expected to be built at Roha in the Raigad district, about 100 km (60 miles) south of Mumbai.