ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

Maharashtra to move planned Saudi Aramco refinery after farmers protest

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Opposition from farmers has prompted Maharashtra to move the location for what would be the country`s biggest oil refinery, Chief Minister Devendra Fadnavis said.

Stare-run oil companies and Saudi Aramco have teamed up to build the $44 billion refinery, which is aimed at giving India steady fuel supplies while meeting Saudi Arabia`s need to secure regular buyers for its oil.

But thousands of farmers are refusing to surrender land, fearing it could damage a region famed for its Alphonso mangoes, vast cashew plantations and fishing hamlets that boast bountiful catches of seafood.

After their protests, land acquisition has been stopped for the refinery at the proposed site at Nanar, a village in Ratnagiri district, some 400 km (250 miles) south of Mumbai, Fadnavis said on Monday.

The refinery will be built at a place where local population won`t oppose the project, he said in a press conference, without identifying a new location.

Fadnavis, a member of Prime Minister Narendra Modi`s Bharatiya Janata Party (BJP), made the announcement after forging an alliance with regional party Shiv Sena for the upcoming general election.

The location of refinery was one of the contentious issues between the parties, with Shiv Sena opposing the refinery.

The announcement comes as Saudi Arabia`s Crown Prince Mohammed bin Salman is due to arrive in India on Tuesday and is expected to announce investments in energy and infrastructure during the visit.

The Ratnagiri Refinery & Petrochemicals Ltd (RRPCL), which is running the project, says the 1.2 million barrel-per-day (bpd) refinery, and an integrated petrochemical site with a capacity of 18 million tonnes per year, will help create direct and indirect employment for up to 150,000 people, with jobs that pay better than agriculture or fishing.

RRPCL, a joint venture between Indian Oil Corp (IOC), Hindustan Petroleum and Bharat Petroleum, has said suggestions the refinery would damage the environment were baseless.

"The company is hopeful that the state government will provide sufficient land for the project on the western coast," Anil Nagwekar, a spokesman for the RRPCL, told Reuters.

Land acquisition has always been a contentious issue in rural India, where a majority of the population depends on farming for its livelihood.

In 2008, for example, India`s Tata Motors had to shelve plans for a car factory in an eastern state after facing widespread protests from farmers.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Mon, Feb 18, 2019
10:46 pm
Reuters
RELATED NEWS
GST Council to meet on February 18 GST Council to meet on February 18
No timeline to remove old tax regime, Revenue Secretary Sanjay Malhotra says No timeline to remove old tax regime, Revenue Secretary Sanjay Malhotra says
RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll
Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis
Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan? Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan?

LATEST NEWS

Stock Split: This small-cap company splits shares in 1:5 ratio after delivering 817% return in 5 years

Moody's says assessing financial flexibility of Adani Group after Hindenburg report

BSNL expected to clock net profit in FY27 : MoS Communications Devusinh Chauhan

Govt proposes changes in income tax law for startups: Here's how it will help sector to boom, top official explains

Twitter creators with ‘Blue Verified’ tag may get ad revenue share, here’s what Elon Musk said

ITC share price up 10% post-Budget; why increase in cigarette tax is good news for company?

DIVIDEND STOCK: Tide, Pampers maker announces 800% dividend - check ex date, record date and payment date

SEBI proposes to allow alternative investment funds' to carry forward unliquidated investments to new schemes

Closing Bell: Sensex surges 900 points, Nifty over 240 points as banks take control of D-Street

Valentine Week 2023 List: Dates, Wishes, Quotes, Messages, Greetings to share on WhatsApp and Facebook

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV