INSUBCONTINENT EXCLUSIVE:
The country's planned giant refinery and petrochemical project, which is being built with Saudi Aramco and Abu Dhabi National Oil Co
(ADNOC), will cost more than the originally planned $45 billion, Oil Minister Dharmendra Pradhan said on Tuesday.The 1.2 million
barrels-per-day (bpd) giant coastal project is part of government's plans to raise its refining capacity by 77 per cent to 8.8 million bpd
It is being built at Roha, around 100 km south of Mumbai."The primary plan was around $45 billion, it will be more than that," Dharmendra
Pradhan told reporters at the World Energy Congress in Abu Dhabi, declining to say by how much.Sources told Reuters last month that
government had increased the cost estimate of the project by more than 36 per cent after protests by farmers forced its relocation.The
project is expected to cost $60 billion, sources told Reuters at the time, but is still expected to be commissioned in 2025.Mr Pradhan
confirmed the commissioning date and said other issues are progressing, without elaborating.Global oil producers are vying to gain entry
into India to establish a stable outlet for their output and to earn profit from the South Asian nation's strong gasoline and
petrochemical demand prospects due to the rising disposable income of its 1.3 billion population.Get Breaking news, live coverage, and
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