Saudi Aramco and a consortium of three Indian oil companies signed today a memorandum of understanding to jointly develop and build an integrated refinery and petrochemical complex in Ratnagiri, West Coast of India, as Saudi Aramco might include a strategic partner to invest in the refinery. The project is estimated to cost around $ 44 billion. President and Chief Executive Officer of Saudi Aramco Engineer Amin Hasan Al-Nasser said that India is a country characterized by its high growth of economy and its major consumer market that aspires international companies to have a distinguished presence there, as Saudi Aramco has a long and distinguished relations with the Indian market in terms of supply of crude oil. Engineer. Al-Nasser also, expressed the pride of Saudi Aramco that this new strategic investment and its great economic dimension represent a milestone and a result of many years of cooperation with oil companies and institutions in India.
