IOCL, BPCL and HPCL Signs Pact to Set World’s Largest Refinery
Indian Oil Corporation Limited (‘IOCl’), Bharat Petroleum Corporation Limited (‘BPCL’) and Hindustan Petroleum Corporation Limited (‘HPCL’) have signed Joint Venture (JV) agreement to set up the world’s largest refinery and petrochemical complex in Ratnagiri district of Maharashtra. The refinery is expected to be set up by 2022 at an estimated cost of USD 40 billion and will have a 60 million tonnes refining capacity.
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