EIL keen to participate in mega JV refinery

PARADIP: Engineering consulting PSU EIL has evinced interest in becoming a partner in the proposed mega refinery planned by the Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum.

"EIL is keen to participate in the project and talks are in advanced stage", IOC Director (refineries) Sanjiv Singh said.

However, the exact form of participation, whether in the form of equity or anything else was to be finalised, he said.

EIL had earlier participated with the IOC to work on some basic designs and R&D, Singh told PTI here.

The three PSUs have decided to set up a mega refinery on the western coast in Maharashtra with a capacity of more than 18 mtpa.

Singh said this would be the biggest grassroot refinery in the country and the quantum of land required would be between 5,000 to 7,000 acres.

The proposed refinery would cater to the southern part of the country.

The IOC official said that the government was very positive about the move taken by the three PSUs.

Besides the refinery, there would be a petrochemicals complex as well to be built deploying Indian technology.