The company will supply 50% of the crude oil required for processing at the refinery. Aramco may introduce at a later stage another strategic partner to share its 50% stake, the reports added. The company has also offered an interest in petroleum retail business in India. The refinery will be capable of processing 1.2 mn barrels of crude oil per day and will produce ~18 MT of petrochemical products per year.
The plant will be one of the largest refining and petrochemical complexes in the world, built to meet fast-growing fuel and petrochemicals demand in India and elsewhere, and providing a steady outlet for Saudi crude oil.
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