HPCL, Rajasthan government sign MoU for setting up refinery at Barmer
14 Mar 2013
Hindustan Petroleum Corporation Limited (HPCL) today entered into a memorandum of understanding (MoU) with the government of Rajasthan for setting up a refinery-cum-petrochemical complex in Barmer, Rajasthan.
The project will be set up in joint venture between HPCL, Rajasthan State Refinery Limited and other equity partners.
The refinery will be set up at an estimated capital investment of Rs37,230 crore. The project is estimated to take about 4 years to go on stream. The refinery will process locally available crude as well as other crudes.
The refinery-cum-petrochemical complex will be designed to produce motor fuels with latest environmental specifications and wide range of petrochemicals, which will have a substantial impact on the economy of Rajasthan, an official release said.
Giving an overview of the project, HPCL chairman-cum-managing director S Roy Chaudhary said the 9 million tonne per annum refinery-cum-petrochemical project will be a state-of-the-art complex and will bring benefit to the state of Rajasthan and its people.
He requested for continued help and support from the state government for speedy completion on fast track basis. Sudhir Bhargav, special secretary, union ministry of petroleum and natural gas, also spoke on the occasion.
The signing ceremony was held in the presence of union minister of petroleum and natural gas M Veerappa Moily, chief minister Ashok Gehlot, union minister of state for petroleum and natural gas P Lakshmi, senior officials of the petroleum ministry and HPCL.