Petroleum Minister Hardeep Puri said on Tuesday that the government is planning to set up a small refinery.
Addressing an industrial event, Puri said this would help in achieving the target of 450 million metric tonnes per annum (MMTPA) refining capacity in the country.
“We need to take some more policy decisions to take it up to 450 MMTPA,” he said.
Presently India’s refining capacity is 252 MMTPA.
Puri said smaller refineries are easier to set up as they face fewer hurdles like land acquisition.
His statement comes against the backdrop of stalled plans of IndianOil, Bharat Petroleum and Hindustan Petroleum to set up a 60 million metric tonne per annum (MMTPA) refinery at Ratangiri in Maharashtra.
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