Hindustan Petroleum Corp Ltd arrangements to take 25 percent stake in the USD 30 billion uber oil refinery wanted to be set up on the west drift, the organization's director.

HPCL Board at its meeting today chose to partaking in the 60 million tons a year refinery in Maharashtra.

Indian Oil Corp (IOC) will hold 50 percent stake in India's greatest oil refinery, while the adjust 25 percent will be with Bharat Petroleum Corp Ltd (BPCL).

The organization is interested in getting a vital accomplice however that will be chosen later. For the present, it has chosen to partake in the venture with 25 percent stake.

The 60 million tons a year refinery and a super petrochemical complex will be set up in two stages.

Stage 1 will be 40 million tons together with a sweet-smelling complex, naphtha saltine and polymer complex. This will cost Rs 1.2-1.5 lakh crore and will come up in 5-6 years from the date of land securing.

The uber complex will require 12,000-15,000 sections of land of land and two-three locales on shoreline of Maharashtra are being investigated. "We have so far not settled the land. Talks are on," said the HPCL director.

The second stage, including a 20 million tons refinery, will cost Rs 50,000-60,000 crore.

The uber west drift refinery will create petrol, diesel, LPG, ATF and feedstock for petrochemical plants in plastic, compound and material enterprises in Maharashtra.

Fifteen million tons a year is the greatest refinery any open segment unit has set up in one phase