Question: State-owned oil firms IOC, BPCL and HPCL signed an agreement to jointly set up the world’s largest refinery and petrochemical complex in which of the following states?
(a) Gujarat
(b) Maharashtra
(c) Rajasthan
(d) Odisha
Ans :(b)
Related facts:-
- On June 14, 2017, three public sector oil marketing companies – Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) signed an agreement to jointly set up the world’s largest refinery and petrochemical complex at Ratnagiri district of Maharashtra.
- Established with an investment of $40 billion this refinery will be world’s largest refinery.
- Indian Oil Corp will have the largest shareholding with 50 per cent stake while Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd will take 25 per cent stake each.
- The capacity of this refinery will be 60 million metric tons annually.
- This refinery is likely to be operational by 2022.
- This refinery will be Green Refinery based on high environmental management standards.
- As of now, Jamnagar refinery, established in Gujarat and owned by Reliance Industries Limited, is India’s largest oil refinery (refinery).
Related Links:-
https://www.iocl.com/aboutus/NewsDetail.aspx?NewsID=44682&tID=8