India's 'Fortune 500' Global Oil majors - IOCL, BPCL and HPCL - are joining hands to build the world's largest Integrated Refinery-cum- Petrochemicals Complex near Rajapur in Ratnagiri district of Maharashtra.
With an investment of up to US$ 44 billion (Rs.3 lakh Crore), the 60 million tonnes per annum refinery is a major step towards creating a secure future that provides access to efficient and sustainable energy and value-added products.
Ratnagiri Refinery and Petrochemicals Limited (RRPCL) is a joint venture company, formed on 22nd September 2017, by the three national oil companies of India namely Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) with equity participation of 50:25:25. It proposes to implement an integrated refinery and petrochemicals complex in the West Coast of Maharashtra. Besides fuels, the Project will also develop various downstream petrochemicals to meet India’s fast-growing fuels and petrochemicals demand. Saudi Aramco (SA) and Abu Dhabi National Oil Company (ADNOC), the two global oil & gas majors, have also expressed their intent to partner in this project and a Memorandum of Understanding (MoU) has been signed to this effect.
This Maha project will bring a huge positive change to Ratnagiri and Sindhudurg Districts and t…
With its unprecedented scale and magnitude, this first-of-its-kind project will positively impact the overall socio-economic development of the region, enhancing the wellbeing and quality of life of millions of people in the region.
Support to existing agriculture and fishing business
Improved infrastructure such as road & rail, connectivity and setting up of a Smart City will improve the scope for local agriculture and fishery..