With oil supply emerging as one of the biggest concerns for India after sanctions on Iran, Saudi Arabia has assured uninterrupted supply to India.

A deal has been signed between Saudi Arabia's state-run oil company Aramco and Indian public sector oil companies to build a $60-billion oil refinery in Maharashtra.

Putting the ball in India's court, Saudi commerce minister Majid bin Abdullah Al Qasabi said on Thursday that work will begin as soon as the land is allocated by India.

"Regarding the opportunities, we started with Aramco. It has taken a decision to build a refinery and it is a huge investment, it's a commitment; waiting for the Government of India to choose the land. We have understood, as the PM said, that a new regional government has been chosen, so he expects in a very short time, the land will be decided. So, the ball is now in India's court and it is the beginning of $35 billion investment," he said.

Initially, the project was to be built in Ratnagiri in Maharashtra but it was later decided that Raigarh would be the site where the refinery would be built by Saudi Aramco, Adnoc of the United Arab Emirates (UAE), Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation.

Speaking on future investments and the formation of the new council for a strategic partnership between New Delhi and Riyadh, the minister said, "We have decided, for every stream identified, there will be a champion from both parties. A council has been created by both the leaders, this council which is supported and headed by both leaders will accelerate the achievement."

Once built, the Raigarh refinery would be the world's largest greenfield refinery.