HPCL signs MoU with Rajasthan Govt. for 9 MMTPA Refinery-cum-Petrochemical Complex

Hindustan Petroleum Corporation Ltd (HPCL) signed an MoU today in Jaipur with the Rajasthan Government for the establishment of a 9 MMTPA refinery –cum-petrochemical complex at an investment of Rs 37,230 crore. HPCL is setting up the complex in Barmer district in association with Rajasthan State Refinery Ltd (RSRL) and others and it would go on stream in about four years. In a statement to the stock exchanges, HPCL said the refinery would process the Rajasthan crude in addition to crude from other sources. The MoU was signed by Sudhansh Pant, Secretary, Mines & Petroleum of Government of Rajasthan and K.Murali, Director (Refineries), HPCL. The project will be setup in partnership of HPCL, Rajasthan State Refinery (RSRL) and others.

The proposed refinery will be setup at an estimated capital investment of Rs 37230 crore. The project is expected to take about 4 years for going on stream after getting approval from the Government of India. The proposed refinery will process the locally available Rajasthan crude as well as other crude. The refinery-cum-petrochemical complex shall 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 the state of Rajasthan. The project related studies have been carried out by renowned consultants. Petroleum Minister M. Veerappa Moily who was present on the occasion said the refinery would become a catalyst for the development of downstream and other service sector industries in the area. According to Moily, the Barmer refinery project was the first to be specifically designed to produce petrochemicals from indigenous crude. Rajasthan Chief Minister Ashok Gehlot, lauding HPCL for the initiative, said it was a historic one for Rajasthan, that will mark the beginning of a transformation of the state in terms of industrial and economic growth Minister of State for Petroleum Panbaka Lakshmi was also present on the occasion