13.7.13

Barmer Refinery snippets


The HPCL-Rajasthan Refinery Limited, a joint venture company, will be the most advanced refinery in the country.
Hindustan Petroleum Corporation is aiming to complete the project by the end of 2017, with the foundation stone-laying ceremony likely to take place in August/September. UPA chairperson Sonia Gandhi is expected to lay the foundation stone.
The refinery will have ultra modern technology brought from the Universal Oil Product (UOP) of United States. The state-of-the-art refinery cum petrochemical complex will have the capacity to break the smallest molecule of hydrocarbons that can later be used for manufacturing of several products like plastic, tyres, dyes etc.
The state government and HPCL entered into an agreement where HPCL will have 74% of equity share in the company while Rajasthan will have 26% of stake. New investors can be brought into venture with Rajasthan government bringing its share down to 15% while HPCL diluting it upto 51%. Initially, the board will have eight directors — six from HPCL and two from state government.
HPCL is planning to extend its pipeline grid even up to Kanpur from this refinery.
According to company sources, laying of foundation stone will happen in August or September. However, the actual construction will only start in December after getting all environmental clearances. The refinery as such will be operated by 200-300 highly skilled personnel but indirect employment that is expected to generate stands at 1.25 lakh during construction and 1.39 cr during the operation of refinery.
Giving a major boost to the economy, state government will receive Rs 1.05 lakh crore in the form of direct tax and Rs 75,000 cr as induced tax (type of tax that changes when an economy's real gross GDP changes.) The GDP of the state economy will get a push of nearly 3% once the refinery is commissioned.
Chief minister Ashok Gehlot thanked the HPCL officials for investing in Rajasthan. He urged them to commission the project in stipulated time and start training locals at their Mangalore facility
HIGHLIGHTS
Project cost – 37,229 cr
Equity structure – HPCL (74%) Rajasthan govt (26%)
Interest-free loan by GoR – 3,736 cr per annum for 15 years
Availability of 28 mgd water form Indira Gandhi Nahar Project
GDP increase – 2-3%
Income – 8.78 lakh cr (during operation), 47,000 cr during (construction)

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