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HPCL to ink fresh MoU for Barmer refinery project

Tuesday, 17 Jun 2014
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Hindustan Petroleum Corporation (HPCL) is planning to ink a fresh MoU with the government of Rajasthan for its refinery-cum-petrochemical complex project at Pachpadra, in Barmer district.


The company intends to revive the project. In December 2013, the state government had raised objections to the fiscal concessions proposed for the project. To keep the plan afloat, the company is now in talks to rework the MoU signed with the state government.


The project, with nine million tpa capacity, involves an investment of Rs 37,320 crore.


HPCL had inked an MoU with the government of Rajasthan for the project in April 2013. The state government had agreed to offer an interest-free loan from 2016-17 to 2030-31, to be repaid in annual installments from 2031-32.

 

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