By CNBC-TV18 IST (Published)
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Oil-to-telecom conglomerate Reliance Industries is looking to open a new plant to boost its current refining capacity by about half, the Business Standard reported.
Oil-to-telecom conglomerate Reliance Industries is looking to open a new plant to boost its current refining capacity by about half, the Business Standard reported.
The new proposed plant will be located at the company’s Jamnagar facility, the world’s biggest refining complex, and will be able to process as much as 30 million tonnes of crude oil per year, sources familiar with the development told the newspaper.
Reliance is looking to establish its dominance and compete with foreign oil companies like Saudi Aramco, Abu Dhabi National Oil Co., and Russia’s Rosneft PJSC, who are acquiring refining plants in India, the report said.
The Jamnagar plant may cost up to $10 billion and preliminary discussion with global refinery process licensors and equipment vendors have started, the report added.
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