Saudi Arabian Oil Company Aramco and Abu Dhabi National Oil Co. (ADNOC) Adnoc have signed a MoU to jointly develop and build an integrated refinery and petrochemicals complex at Ratnagiri in Maharashtra. The project will be implemented by Ratnagiri Refinery & Petrochemicals Ltd. (RRPCL). RRPCL which is promoted by a consortium of India PSUs consisting of IOCL, BPCL and HPCLwill now have Saudi Aramco & ADNOC as overseas strategic partners. The project will be set up as a 50:50 joint partnership (50:50) between the consortium from India and Saudi Aramco and ADNOC. This will be single largest overseas investment in the Indian refining sector. The strategic partnership brings together crude supply, resources, technologies, experience and expertise of these multiple oil companies with an established commercial presence around the world.