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Need $300 bn invt to double refinery capacity: Pradhan

| | BHUBANESWAR | in Sunday Pioneer

India needs investment to the tune of $300 billion in the next 10 years to double its oil refining capacity, Union Petroleum Minister Dharmendra Pradhan said on Saturday.

“Oil refining capacity in the country stands at over 247 million ton at present and demand for petro products, which is rising rapidly, will touch 600 million ton by the year 2040,” Pradhan said, while inaugurating the 22nd Refining and Petrochemicals Technology Meet here.

Noting that the country has built a robust refining and petrochemicals sector over the years, the minister said several brownfield projects are already in the pipeline for creating capacities of around 142 million ton. He said 2 major greenfield projects are all set to be launched to add 69 million ton of new refining capacities soon

 
 
 
 
 

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