05-Jul-16 State-run IOC, BPCL, HPCL and EIL plan to set up India's largest refinery on the west coast of the country at an estimated outlay of US$30 bln (Rs 2 lakh crore). The 60 mln tpa refinery and a mega petrochemical complex will be set up in two phases. Phase-1 will be 40 mln tons along with an aromatic complex, naphtha cracker and polymer complex- at an investment outlay of Rs 1.2-1.5 lakh crore and planned to set up in 5-6 years from the date of land acquisition.
The mega complex will require 12,000-15,000 acres of land being scouted in the state of Maharashtra. Being on the west coast will provide the unit a natural advantage of easily sourcing crude oil from the Middle-East, Africa and South America. Moving products to consumption heartland from west will not be difficult.
