India sets up panel to acquire land for planned west coast refinery
NEW DELHI, (Reuters) - India has set up a panel of officials to suggest ways to settle land acquisition issues for a planned $44 billion refinery on the west coast - Indian Oil Corp statement.
Saudi Aramco and ADNOC will hold a 25 percent stake in the planned 1.2 million barrel per day refinery and petrochemical project while a consortium of Indian refiners led by IOC will together hold the remainder.
The committee will also recommend on issues relating to the overall environmental protection and ecological conservation of the region - IOC statement. The panel will submit its recommendation in six months. Thousands of farmers oppose the refinery and are refusing to surrender land.
India aims to start production from the planned project by 2022 (Reporting by Nidhi Verma; Editing by Adrian Croft)
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