PSU oil major 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.

Veerappa Moily, Union Minister of Petroleum & Natural Gas, who was present on the occasion, expressed confidence that the refinery would become a catalyst for the development of downstream and other service sector industries in the area. He said the planned refinery project was the first project that was specifically designed to process indigenous crude.

Rajasthan Chief Minister Ashok Gehlot, lauding HPCL for its initiative, was confident that it would address the environmental issues and contribute to the community development in the region.

Among others who attended the MoU signing ceremony were Lakshmi Panabaka, Union Minister of State for Petroleum and Natural Gas, Rajasthan Ministers, and senior officials of GoI, Rajasthan Government, HPCL, EIL and ONGC.

(This article was published on March 14, 2013)
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