Rajasthan State Refinery to form joint venture with Hindustan Petroleum

The Government of Rajasthan has signed a memorandum of understanding (MoU) with Hindustan Petroleum Corporation Ltd. (HPCL) to set up a refinery-cum-petrochemical complex in Barmer District of Rajasthan, India.
HPCL is engaged in the refining of crude oil and marketing of oil products.
The project will be set-up in a joint venture between HPCL, Rajasthan State Refinery Limited (RSRL) and other equity partners. Both HPCL and RSRL are based in India.
The joint venture, HPCL Rajasthan Refinery, Ltd., will have an estimated capital investment of INR372,300 million (USD6,853.74 million) and scheduled to be set-up in four years. The proposed refinery will process the locally available Rajasthan crude as well as other crudes to produce motor fuels.
(July 12, 2013)