Millennium Post

HPCL, Rajasthan to form JV for Rs 37,229-crore Barmer refinery

The Rajasthan government and state-owned Hindustan Petroleum Corporation Ltd (HPCL) on Thursday signed an agreement to set up a joint venture company HPCL Rajasthan Refinery Ltd to execute the ambitious oil refinery project in Barmer.

The green field refinery-cum-petrochemical complex is to be set up in Pachpadra on a government land with an estimated cost of Rs 37,229 crore and scheduled to be set up in 4 years.

'After this agreement, a joint venture company will be set up and thereafter foundation laying ceremony will take place. Best technologies will be brought here and there will be development of the state as a whole after the project is complete,' HPCL CMD Roy Choudhury said at a joint press conference with the state government.

Chief Minister Ashok Gehlot asked the company officials to work in a time-bound manner in order to set up the refinery in stipulated time period of four years.

He also suggested them to start process to train local level people for employment purpose. Asserting that fiscal parameters of the state were well under limits, Gehlot said that the state has investment- friendly environment and setting up of the refinery will be a milestone.
Referring to a recent Assocham report which places Rajasthan the fourth position from investment point of view, Gehlot said that the state would be higher in rank if the investment of refinery is taken into account.

The CM also informed that he has directed chief secretary to make sure that the development around the refinery area, both in residential and commercial/industrial, is in planned manner with no illegal sale or purchase of the lands.
Agencies

Agencies

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