India to establish petroleum institute

The Government of India will build a petroleum institute to be called the Rajiv Gandhi Institute of Petroleum Technology (RGIPT), in Peeparpur, in the Sultanpur district of Uttar Pradesh, at a cost of Rs860 crore (US$190 million). State-owned oil companies such as Oil and Natural Gas Corporation, Indian Oil Corp., Bharat Petroleum, Hindustan Petroleum and Gas Authority of India Ltd. will contribute about Rs250 crore (US$55 million) to establish the institute. The balance will come from the Oil Industry Development Board and government budgetary support. (November 13, 2006)