Hindustan Petroleum Corporation (HPCL) has inked a joint venture agreement (JVA) with Government of Rajasthan on July 11, 2013 for setting up a 9 MMTPA grass root refinery cum petrochemical complex at an estimated cost of Rs 37,230 crores at Pachpadra in Barmer district in the state of Rajasthan. HPCL and Government of Rajasthan will hold equity of 74% and 26% respectively.
A memorandum of understanding has already been signed between the company and Government of Rajasthan on March 14, 2013 stipulating broad parameters for the implementation of the project. Detailed Feasibility Study, Financial appraisal, Economic Impact assessment study, etc have been completed.
The proposed 9 MMTPA grass root refinery cum petrochemical complex will source crudes from Rajasthan Oil fields and other imported crudes. This refinery is expected to be completed in 4 years and will have substantial positive impact on the economy of Rajasthan state. This refinery will produce various petroleum and petro-chemical products.
