India has invited Saudi Arabia to invest in its strategic oil storage even as it looks to resurrect a $ 44 billion (Rs 3.08 lakh crore) refinery project with the world’s largest oil producer after the BJP-ruled Maharashtra government denied land at the initial site.
Saudi Oil Minister Khalid Al Falih, on his second visit to India in three weeks, discussed with its Indian counterpart Dharmendra Pradhan the 60 million tonne (MT) a year mega oil refinery cum petrochemical complex, whose initial allocated land in coastal Ratnagiri district of Maharashtra was denotified by the state government earlier this month, as part of electoral understanding between the ruling BJP and Shiv Sena.
