Following farmer protests in India, Maharashtra Chief Minister, Devendra Fadnavis, said the government had identified a site in Raigad district, located 100km from Maharashtra's capital city, Mumbai, to carry out the development of a $44bn refinery that Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation that Saudi Arabia's state-run Saudi Aramco and the UAE's Adnoc Group equally hold 50% stake in.

City and Industrial Development Corporation plans to acquire land from 40 villages in Raigad for the refinery.

Initial plans for the project proposed its development in Nanar, a village within the Maharashtra state's Ratnagiri district, located 400km south of Mumbai, but farmer protests were held following concerns that their land in Nanar – known for Alphonso mangoes, cashew farms, and fishing colonies – would be damaged along the way.

The three Indian oil giants together own the remaining 50% stake in the project through Ratnagiri Refinery and Petrochemicals Ltd, their joint company that is backing the scheme.

Upon completion, the 1.2 million barrels per day project will help India secure steady supply of fuel, according to Construction Week's sister title Refining & Petrochemicals Middle East.