Rajasthan signs reworked Barmer refinery MoU with HPCL

Rajasthan signed a MoU with HPCL over the reworking of Barmer refinery in the state. The deal was finalised in the presence of Rajasthan’s CM Vasundhara Raje.

Created On: Apr 18, 2017 17:21 ISTModified On: Apr 19, 2017 14:38 IST

Rajasthan government on 18 April 2017 signed a reworked Barmer refinery Memorandum of Understanding with Hindustan Petroleum Corporation Ltd (HPCL).

The MoU was signed for the Rs 43,129 crore Barmer refinery in the presence of Rajasthan’s Chief Minister Vasundhara Raje and the Union minister of state for petroleum and natural gas, Dharmendra Pradhan.

CA eBook

Key Highlights

• Vasundhara Raje negotiated the terms and conditions of the deal, scrapping the previous one on the grounds that it was in favour of HPCL.

• According to sources, as per the new deal, the state's viability gap funding for 15 years will come down to Rs 1123 Cr instead of earlier estimated Rs 3736 Cr annually.

• The cost of the refinery along with a petrochemical complex has, however, gone up to Rs 43,129 Cr from the earlier estimated cost of Rs 37229 Cr.

70th Himachal Day celebrated across Himachal Pradesh

Top 300 CA eBook

About the project

• The Barmer refinery will be the first in the country to produce BS-VI standard fuels.

• The existing refineries in the country currently produce on BS-III fuels but they will be upgraded to produce BS-IV fuels.

• The power at the new refinery will be generated using petroleum coke, a by-product of oil refining process, instead of gas.

• The state government will have 26% stake in the project and the rest will be held by HPCL.

• The government has already made 4800 acres of land available for the project at Pachpadra.

• The project is expected to take around four years to reach completion.

Though the project has already received the required environmental clearance, HPCL would require some more government approvals, which may take few more months.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS

Related Stories

Comment (0)

Post Comment

2 + 4 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.

    Monthly Current Affairs PDF

    • Current Affairs PDF October 2021
    • Current Affairs PDF September 2021
    • Current Affairs PDF August 2021
    • Current Affairs PDF July 2021
    • Current Affairs PDF June 2021
    • Current Affairs PDF May 2021
    • Current Affairs PDF April 2021
    • Current Affairs PDF March 2021
    View all

    Monthly Current Affairs Quiz PDF

    • Current Affairs Quiz PDF October 2021
    • Current Affairs Quiz PDF September 2021
    • Current Affairs Quiz PDF August 2021
    • Current Affairs Quiz PDF July 2021
    • Current Affairs Quiz PDF June 2021
    • Current Affairs Quiz PDF May 2021
    • Current Affairs Quiz PDF April 2021
    • Current Affairs Quiz PDF March 2021
    View all