Representatives of HPCL and Rajasthan Government inking the MoU

Rajasthan Government and HPCL sign a Joint Venture Agreement for Refinery Cum Petro-Chemical Complex at Barmer

On 18th April 2017, the MoU for Refinery Cum Petro-Chemical Complex at Barmer was signed between the Rajasthan Government and HPCL in the presence of Union Minister of State (IC) for Petroleum and Natural Gas Dharmendra Pradhan and Chief Minister Vasundhara Raje. Today, both parties have signed a joint-venture agreement that shall lead to the kick start of this much-awaited project.

Also Read: Barmer Refinery Project Will Save Rs. 40,000 Crore For Rajasthan

This proposed complex shall be producing a wide range of petroleum and petro-chemical products that shall impact the economy of Rajasthan substantially. The Refinery promises to add value to the Rajasthan Crude and produce products of BS-VI Standard to control emissions, a first for the country. The environment impact of such fuel shall indeed be substantial. A project of this nature and magnitude is also set to the local economy receives a major boost in terms of the development of ancillary industries and the generation of direct and indirect employment. This Refinery shall be an important driver for the economy of not only Barmer but also the entire Western Desert.

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After many exertions of Chief Minister Vasundhara Raje, negotiations between the Rajasthan Government and HPCL has led to a significant saving of Rs. 40,000 Cr. which otherwise was to flow out as interest-free loan. The state shall receive 12% Return On Investment instead of 2% as was acceptable to previous Ashok Gehlot government. This negotiated profit is a major achievement of the Raje Government. Raje would want to launch the project before she goes into elections in 2018. The government of Rajasthan is now putting an intensive effort to achieve just that.


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