India and Saudi Arabia will set up a task force to fast track west coast refinery project

India and Saudi Arabia have agreed to set up a task force to fast track the West Coast refinery project. The project is a joint venture between the two countries to build a refinery on India’s west coast.

The refinery is expected to have a capacity of 60 million tonnes per annum (MTPA) and will be located in Maharashtra. The project is estimated to cost $50 billion.

The task force will be co-chaired by the Indian Oil Minister and the Saudi Arabian Minister of Energy. The task force will be responsible for finalizing the project’s implementation plan and securing the necessary approvals.

The West Coast refinery project is a major strategic initiative for both India and Saudi Arabia. The project will help India to reduce its dependence on imports for oil and petroleum products. It will also help Saudi Arabia to diversify its export markets.

The setting up of the task force is a significant step forward for the project. The task force is expected to finalize the project’s implementation plan within the next few months.

The West Coast refinery project is a win-win for both India and Saudi Arabia. The project will help India to reduce its dependence on imports for oil and petroleum products, while also helping Saudi Arabia to diversify its export markets. The project is also expected to create thousands of jobs in both countries.

The setting up of the task force is a positive development for the project. The task force is expected to finalize the project’s implementation plan within the next few months, which will pave the way for the start of construction.