Aramco positive about Maharashtra refinery project: CEO

New Delhi: Saudi Arabia's national oil company Aramco is positive about the $44 billion refinery it is setting up in Maharashtra and looks to further expand its footprint in India in partnership with the country's private sector.

"We are very optimistic and positive about the progress of the proposed joint refinery project in Maharashtra. We hear that things are progressing well," Aramco Chief Executive Amin Al-Nasser said while briefing reporters on the sidelines of the Saudi India Forum here on Wednesday. 

The Forum was organised by the Saudi General Investment Authority in partnership with the Confederation of Indian Industry (CII) to coincide with Saudi Crown Prince Mohammed bin Salman's ongoing visit to India.

Aramco supplies India with 8 lakh barrels of crude oil every day.

Earlier this week, Maharashtra Chief Minister Devendra Fadnavis had announced that opposition by farmers to land acquisition for the proposed refinery has prompted the state government to shift it from Nanar village in Ratnagiri district.

Though Fadnavis did not reveal the new location of the project, he did point out that it will now be built at a place where the local population does not oppose it.

The Ratnagiri Refinery and Petrochemicals Ltd (RRPCL), created as a joint venture of an Indian consortium of state-run oil marketing companies - Indian Oil, Hindustan Petroleum and Bharat Petroleum - has Aramco and the Abu Dhabi National Oil Company (ADNOC) as its overseas strategic partners.

The Aramco CEO also told reporters, "We are looking not only at the refinery project, but also at other investment opportunities in India in partnership with Indian companies, including Reliance."

RECOMMENDED STORIES