Indian Oil Giants Sign Mega Refinery Deal

Agriculture & Rural

Posted by AI on 2025-10-29 22:36:11 | Last Updated by AI on 2025-12-16 04:08:41

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In a significant move for India's energy sector, Bharat Petroleum Corporation (BPCL) and Oil India (OIL) have inked a deal to develop a massive refinery and petrochemical complex in Andhra Pradesh, with an impressive investment of Rs 1 lakh crore. This strategic partnership, announced on Tuesday, marks a significant step towards bolstering India's downstream capabilities and reducing its reliance on fuel imports.

The proposed refinery, with an annual refining capacity of 9-12 million tonnes, will be a game-changer for the country's energy landscape. BPCL, in a statement, emphasized the project's strategic importance, stating that it will reshape the company's portfolio and align with the national vision of 'Atmanirbhar Bharat' (Self-Reliant India). The project has already secured crucial statutory approvals and land allocation from the Andhra Pradesh government, with pre-construction activities underway.

The collaboration extends beyond the refinery. BPCL has also signed agreements with Numaligarh Refinery (NRL) and OIL for a cross-country pipeline project, and with Fertilisers and Chemicals Travancore (FACT) to market organic fertilizers. The 700-km pipeline, from Siliguri to Mughalsarai, will efficiently transport petroleum products, while the partnership with FACT will promote sustainable agriculture through the trading of organic fertilizers produced from BPCL's upcoming biogas plant in Kochi.

"This collaboration reaffirms our commitment to strategic diversification," said Ranjit Rath, Chairman of Oil India and Numaligarh Refinery. The project promises to enhance India's energy security, reduce environmental impact, and foster sustainable agricultural practices, marking a significant milestone in the nation's journey towards self-reliance.

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