Industry & Economy
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Petroleum
State Govt may pick up token stake in Rajasthan Refinery
Pratim Ranjan Bose
Kolkata
,
Nov. 3
THE Rajasthan Government may pick up a participatory stake in the proposed 7.5-million-tonne Rajasthan Refinery Ltd (RRL).
The Rs 9,000-crore refinery will be set up as a 50:50 joint venture between ONGC and Cairn Energy.
MRPL has been identified as the implementing agency for the project.
According to ONGC sources, the State Government has expressed interest in picking up a token stake in the project.
The discussions, however, are still at an early stage.
The State Government has described the project as the single largest investment in the State so far and promised allocation of land and creation of infrastructure at the earliest.
RRL will refine 5 million tonnes of crude procured from the gas reserves of Barmer held jointly by Cairn Energy and ONGC.
Cairn Energy holds 70 per cent operating stake in the field with ONGC holding the rest.
The remaining 2.5 million tonnes refining capacity of RRL will be used for refining the crude produced by ONGC in its nearby fields.
ONGC has also signed an MoU with the Rajasthan Government for supplying 1.5 million standard cubic metre of gas for the proposed 330-MW power plant by Rajasthan Vidyut Utpadan Nigam Ltd at Dholpur.
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