The Centre and the Maharashtra government have jointly agreed on the development of a mega refinery and petrochemical complex in the Konkan region.
The project is likely to come up at Guhagar in Ratnagiri district of Maharashtra.
The 60 million tonne refinery project entails an investment of Rs two lakh crore, to be developed by a special purpose vehicle (SPV) formed by Indian Oil, Bharat Petroleum and Hindustan Petroleum Corporation.