Saudi to jointly set up two refineries in India

Saudi Arabia is partnering with Indian companies to establish two refineries in India, each with a 9 million tonnes per year capacity. Aramco may invest ₹18,000 crore for a 26% equity stake in both projects. This renewed effort follows previous setbacks in securing a foothold in India’s refining sector, with talks ongoing regarding crude supply terms.

Saudi Arabia is partnering with Indian companies to establish two refineries in India, each with a 9 million tonnes per year capacity. Aramco may invest ₹18,000 crore for a 26% equity stake in both projects. This renewed effort follows previous setbacks in securing a foothold in India’s refining sector, with talks ongoing regarding crude supply…