IOC, BPCL, HPCL to set up 60 mmtpa refinery-cum-petrochemicals complex at Ratnagiri

16-Jun-17

Three state-run oil marketing companies (OMCs) - Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation - have entered into a joint venture agreement for the creation of formalised plans to set up one of the world's largest refinery-cum-petrochemicals complex -- West Coast Refinery Project, to be located in the Ratnagiri district of Maharashtra. The project will take five-six years after land acquisition and all clearances

"The 60 MMTPA West Coast Refinery-cum-petrochemicals complex will be a state-of-the-art unit built at an estimated cost of US$40 billion, and is expected to be commissioned by the year 2022," the Indian Oil Corporation said in a statement. "It will be a green refinery comprising 50 units designed to operate at the highest level of efficiency, and will be self-sufficient in power and utilities requirements, besides creating a benchmark in environment management."

According to Indian Oil, the refinery along with a petrochemicals complex is designed to produce Euro-VI and above grade of transportation fuels. The refinery will have in-built flexibility for processing a wide spectrum of light and heavy crude oil grades, utilising various blending techniques. It will also be able to produce on-demand product mix of petrol and diesel streams, as well as other refined products and petrochemical streams with the highest level of integration and energy efficiency.