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Rajasthan govt, HPCL sign JV for petrochemical plant
15
Jul '13
The Rajasthan government and Hindustan Petroleum Corporation Limited (HPCL) have signed a joint venture (JV) agreement to set up a refinery-cum-petrochemical complex in Barmer district. The joint venture company, HPCL-Rajasthan Refinery Limited, will execute the ambitious project. 
 
The refinery-cum-petrochemical complex is to be set up in Panchpadra, Barmer district, on a government land with an estimated cost of Rs. 372.3 billion and is scheduled to come up in 4 years
 
The proposed plant, in which HPCL and government of Rajasthan would have a share of 74 and 26 percent respectively, will be sourcing crudes from Rajasthan oil fields and other imported crudes.
 
Addressing media, Rajasthan state Chief Minister Ashok Gehlot said the production of petrochemicals such as benzene, toluene and mixed xylene would be able to help the ancillary industries in Barmer, Jodhpur and nearby areas with raw material and promote these units in various sectors.
 
The plant would have capacity of 9 million tons per annum and will be producing various petroleum and petrochemical products. HPCL and the state government had signed the memorandum of understanding (MOU) on March 14, 2013 for the setting up of the refinery.
 

Fibre2fashion News Desk - India


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