The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Lok Sabha that Oil PSUs namely Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) have announced the plan to jointly set up an integrated refinery-cum- petrochemical complex with a refining capacity of 60 MMTPA (million metric tonnes per annum) in 2 phases in Maharashtra. Engineers India Limited (EIL) is carrying out detailed feasibility study. Oil PSUs and EIL are in the process of site selection for the refinery in consultation with Govt. of Maharashtra.
Oil Companies take decision on equity structure and financing of the project depending on various financial and operational parameters.
The estimated expenditure and other details of the project are finalized after the completion of Detailed Feasibility Study and selection of site. The implementation time for the proposed Refinery is estimated to be seven years after acquisition of land. Mackensie Alexander Jersey