Ratnagiri refinery: Pradhan says open to offer majority stake to Aramco
Saudi Aramco has reportedly sought majority ownership in the mega refinery-cum-petrochemical complex for which state-owned oil firms Indian Oil, Bharat Petroleum and Hindustan Petroleum have inked an agreement. "Aramco is in discussions with us. We have held many rounds of talks on the Ratnagiri project with them. It's a commercial project and we are open to their suggestion (of giving majority stake)," Pradhan told PTI here over the weekend
Saudi Armco's interest in the project can be seen as securing its future with a large customer as increasing India has been moving away from Saudi to other markets like Africa, Latin America and even the US. Image source: Reuters