Hindustan Petroleum Corporation is reportedly
relocating its proposed greenfield refinery in Punjab to Rajasthan.
HPCL, which had planned to set up the 9 million
tpa Bhatinda refinery at Phulokhari in Bhatinda district through its 100 per
cent subsidiary Guru Gobind Singh Refineries is considering Rajasthan as an
alternative site.
The move to relocate comes in the wake of the
Punjab government reneging on the fiscal incentives earlier offered. No more
details are available.
The HPCL board is scheduled to meet on 29 October
2004 (today) to discuss the issue.