Sunday, 24 September 2023 04:39 GMT

India Plans To Set Up Smaller Refineries, Says Petroleum Minister


(MENAFN- IANS) New Delhi, May 30 (IANS) The government plans to set up smaller refineries, Petroleum Minister Hardeep Puri said on Tuesday.
Addressing an industry event, Puri said that this would help in achieving the target of 450 million metric tonne per annum (MMTPA) refining capacity in the country.
"We need to take few more policy decisions to take it up to 450 MMTPA," he said.
Currently India has a refining capacity of 252 MMTPA.
Smaller refineries, Puri said, are easier to install as they face lesser hurdles like land acquisition.
His statement comes against the backdrop of stuck plans of IndianOil, Bharat Petroleum and Hindustan Petroleum to set up a 60 million metric tonne per annum (MMTPA) capacity refinery at Ratanagiri in Maharashtra.
--IANS
ans/vd

MENAFN30052023000231011071ID1106352981


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.