Hindustan Petroleum Corporation (HPCL) would sign a memorandum of understanding (MoU) with Rajasthan Government on March 13, 2013 for setting up an oil refinery in the state. The decision to set up the refinery was taken at the board meeting of HPCL in Delhi on March 05, 2013.The Petroleum Minister M Veerappa Moily would also remain present on the occasion.
For a long time the decision to setup the oil refinery was pending and this would sum up as the biggest investment in the state that will accelerate economic development besides generating employment opportunities. Last month the state government had given its nod in principal to provide a financial package of Rs 3,376 crore to set up the refinery.
HPCL operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai (west coast) of 6.5 million metric tonnes per annum (MMTPA) capacity and the other in Vishakapatnam, (east coast) with a capacity of 7.5 MMTPA.
