India’s biggest oil refinery to come up in Maharashtra

India plans to set up its biggest oil refinery in Maharashtra and the government has mandated the state-run oil marketing companies (OMCs) to work on the project. The government envisages the development of a petrochemical hub on the western coast. This will serve the domestic market and also have an eye on the world market. Three OMCs, namely, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, and Indian Oil Corporation (IOC), have been directed to work on the project. These companies will determine the feasibility of the project, and development works are expected to commence by 2017. The modalities of investment in the project are yet to be decided. Meanwhile, the state government will be responsible for the land acquisition and securing of requisite clearances for the project.

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