Archive · 15 Sep 2025
India to Include Refineries in Infrastructure List
India is making it easier for Saudi Arabia to invest in its refineries.
The government is adding refineries to a special list that gives tax breaks.
This is to help Saudi Arabia’s Public Investment Fund (PIF) get tax exemptions on their investments.
Saudi Arabia, through PIF, is planning to invest in new refinery projects in India.
This is also happening because Saudi Arabia helped India with fertilizer supplies when another country delayed them.
This move benefits both countries by encouraging investment and securing essential resources.
The Indian government will include refineries in the Harmonised Master List of Infrastructure.
This inclusion will allow Saudi Arabia’s PIF to avail tax exemptions on investments in refinery projects.
PIF, on behalf of Saudi Aramco, may invest in refinery projects by ONGC and BPCL.
The initial investment could be around Rs 24,000 crore ($2.8 billion).
India signed long-term agreements with Saudi Arabia for fertiliser supply.
- Who
- Indian government and Saudi Arabia’s PIF
- What
- India is including refineries in the infrastructure list to provide tax benefits for Saudi investments.
- When
- Recently, with the process being fast-tracked.
- Where
- India
- Why
- To facilitate tax exemptions for Saudi investments in refinery projects and strengthen energy ties.
- Action
- India to include refineries in the Harmonised Master List of Infrastructure
- Benefit
- Tax exemptions for Saudi investments in refineries
- Key Investor
- Saudi Arabia’s Public Investment Fund (PIF)
- Proposed Investments
- Refinery projects by ONGC and BPCL
- Initial Investment Amount
- Around Rs 24,000 crore ($2.8 billion)
- Fertilizer Agreement
- Long-Term Agreements signed with Saudi Arabia for fertiliser supply