The authorities plans to set up smaller refineries, Petroleum Minister Hardeep Puri mentioned on Tuesday.
Addressing an business occasion, Puri mentioned that this is able to assist in attaining the goal of 450 million metric tonne each year (MMTPA) refining capability within the nation.
“We need to take few more policy decisions to take it up to 450 MMTPA,” he mentioned.
Currently India has a refining capability of 252 MMTPA.
Smaller refineries, Puri mentioned, are simpler to set up as they face lesser hurdles like land acquisition.
His assertion comes in opposition to the backdrop of caught plans of IndianOil, Bharat Petroleum and Hindustan Petroleum to set up a 60 million metric tonne each year (MMTPA) capability refinery at Ratanagiri in Maharashtra.
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