From The Economic Times · Reuters · · 50s
UAE Saudi Arabia Target India Refining Investments
UAE and Saudi Arabia aim to boost India's refining capacity with major investments.
In brief
UAE and Saudi Arabia aim to boost India's refining capacity with major investments. UAE and Saudi Arabia seek to invest in India's refining sector to access growing downstream market. Originally reported by The Economic Times.
UAE Saudi Arabia Interest
India's oil minister Hardeep Singh Puri stated the United Arab Emirates and Saudi Arabia are interested in investing in India's refining sector.
“nobody wants to come and invest in a refinery unless they can also get a slice of your growing downstream market”
India Refining Capacity Target
India aims to expand refining capacity from 5.4 million barrels per day to 6.2-6.4 million barrels per day.
Refinery Investment Cost
Building a new refinery costs 780 billion to 800 billion rupees ($8.13-$8.34 billion).
Investment Motivation
Puri noted investors seek access to India's growing downstream market for refining investments.
Investment Readiness
UAE and Saudi Arabia are keen on these investments due to India's expanding downstream market.
The bottom line
UAE and Saudi Arabia seek to invest in India's refining sector to access growing downstream market.
