India’s Nayara energy to double refining capacity
Russian President said in January that the largest foreign investment in the Indian economy was made by Russia’s oil major Rosneft.
India’s oil company Nayara Energy, in which Rosneft owns a 49.13% share, will double refining capacity of the oil-processing plant in the town of Vadinar, said Shri Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas.
“This is the refinery expansion project, increasing the size of the refinery. They want to put much more refining. So if it is X right now, they want to make it two X,” he said.
“It’s like to set up a new refinery. But if you already have a refinery, you have the land, it is faster if you expand the same refinery,” Jain noted.
Location of the plant is in Gujarat, Vadinar. <…> They also have a port. It’s close to a sea port. So it is very helpful for them to receive crude oil to the refinery. Now the Company wants to expand.
Russian President Vladimir Putin said in January that the largest foreign investment in the Indian economy was made by Russia’s oil major Rosneft, which invested INR 190000 Crores in an oil-processing plant, a chain of gas stations and a port. He added that it was also planned to construct a plant.
Nayara Energy includes a refinery in Vadinar, a deep-water port that can handle ultra-large VLCC class tankers, and a chain of gas stations. Primary oil refining capacity of the Vadinar refinery totals 20 mln tons per year. The network of gas stations contains over 6,000 stations across India. Rosneft owns a 49.13% share in Nayara Energy.
