Indian Oil Corp, Hindustan Petrochemical Corp and IOC have signed a comsortium for a proposed refinery and petrochemical complex in Maharashtra. In this joint venture IOC will hold a 50% stake and HPCL and BPCL will hold a 25 % interest.
PCN earlier reported that the project would cost ap-proximately Rs 1.80-trillion and would be undertaken in two phases. The state government has identified six potential sites for the project. Location for the complex is yet to be finalized.
