Mega refinery and a petrochemical complex is planned in the state of Maharashtra. The project entails an investment of Rs 2 lakh crore. Oil marketing companies (OMCs) including HPCL and BPCL may jointly hold 51 per cent and the balance stake may go to the state government and a strategic investor. The Government of Maharashtra and the Ministry of Petroleum have zeroed in on Guhagar, in the coastal district of Ratnagiri for this project. Around 15000 acre of land is required for the project. The refinery would have 60 million tonne per annum (MTPA) capacity.