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The Hindustan Petroleum Corporation (HPCL) and the government of Rajasthan signed a memorandum of understanding (MoU) at Jaipur today to set up a refinery-cum-petrochemical complex at Barmer in Rajasthan, with an investment of Rs 37,230 crore.
The project is estimated to take about four years for going on stream. It will process the locally available crude as well as other crudes.
“The refinery-cum-petrochemical complex would be designed to produce motor fuels with latest environmental specifications and wide range of petrochemicals, which will have a substantial impact on the economy of Rajasthan,” an oil ministry statement said.
Speaking on the occasion, the Union minister of petroleum and natural gas M Veerappa Moily said that the proposed refinery has the potential to become an anchor industry for developing downstream and other sector industries in and around the region. Moily added that the proposed complex will be the first such complex specifically designed to produce petrochemicals from the indigenous crude oil.
