(TOI)
Rajasthan government and state owned oil firm HPCL inked an agreement to form a joint venture company for Barmer petroleum refinery and petrochemical complex on Thursday. In a new firm, HPCL Rajasthan Refinery Limited (HRRL), state government will have 26% and HPCL will have 74 per cent of partnership.
The agreement was a follow up MoU signed between both the stakeholders in April, 2017 and comes a day after government of India gave its approval for the project.
With JV in place, government is aiming to start and complete the construction work in four years. “After receiving all necessary clearances on slated deadlines, ground breaking ceremony would be solemnised for start of the actual work for the refinery” said chief minister, Vasundhara Raje during the signing ceremony.
She, however, expressed satisfaction on the progress of the refinery and directed the officials to expedite the pace of work as soon as the Environmental Clearance was received from the Ministry of Environment.
