FinMin touts brownfield push for infra at AIIB, oil min goes for greenfield

Roping in Oil Ministry of Adnoc for contentious Ratnagiri refinery project is at variance with FinMin's announcement of $200 mn investment in NIIF fund

On Monday morning, India brought in Abu Dhabi National Oil Company (Adnoc) as the second foreign investor, after Saudi Aramco, to invest in the proposed Ratnagiri Refinery & Petrochemicals (RRPCL) project. The estimated cost of the greenfield project is Rs three trillion.

It is ambitious. It demonstrates the interest among large oil companies in the downstream segment of India’s oil sector. It also goes against the recent changes in policy proposed by India’s finance ministry to instead attract foreign and domestic money in brownfield projects. Those changes are what the finance ministry is telling the world about at the