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Central Government/Public Sector | Rajasthan - India | PID: 170514
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The nine-million tonne mega project of Hindustan Petroleum Corporation Limited (HPCL), the Barmer refinery plant in Rajasthan, is on the track and the company is expected to complete the project by March 2022. The State-run oil retailer also plans to invest over Rs 40,000 crore in the Barmer project, while over Rs 7,000 crore will be spent initially in this financial year, according to a top official of the company
We have got all the approvals for setting up our proposed mega refinery complex at Barmer in Rajasthan. As of now, the project is on the track and all the land deed has been completed and the environment clearance has been given a go-ahead for the project. As far as non-plant related tender activities are concerned, our team has already initiated the process and we expect to complete the project by 2022 for the 9-Million Tonne (MT) refinery plant in barmer,” the official told
As for total investment, we plan to invest over Rs 40,000 crore in the project, where Rs 7,100 crore has been planned to invest in the current financial year,” he added
Keeping Prime Minister Narendra Modi’s aspiration intact to cut the oil import significantly and increase the oil output capacity in the country, HPCL has been making its all-out efforts to meet its demand in the near future
However, confirming the development on the Barmer project, HPCL Chairman and Managing Director (CMD) MK Surana said, “The Government approval is already in place and a land deal has been signed. Boundary wall constructions have already started. The configuration part is over and we have started RFPs for process licences. In Barmer, we are planning an investment of Rs 43,129 crore, which we are planning to complete in 2022
The oil and gas retailer is looking forward to expand its refineries aggressively in the near future. HPCL also informed that project activities for Vizag Refinery Modernization project and Mumbai Refinery expansion project are on track. “We are expanding the Vizag refinery from 8.3 MT to 15 MT, expanding the Mumbai refinery from 7.5 MT to 9.5 MT, and setting up a new 9-MT refinery in Barmer as well,” Surana added
As far as the Vizag refinery is concerned, he further said, “We will be investing Rs 20,000 crore. The two phases of the Mumbai refinery will come to the tune of Rs 8,500 crore. We will invest another Rs 35,000 crore in marketing infrastructure. In total, we are planning about Rs 60,000 crore worth of investments
When asked about demand of petroleum products in India, Surana said, “India has the potential to develop as a refining country. In terms of petrochemicals, demand is growing and our per capita consumption is very low. I think the demand for overall petroleum products is set to grow at around 4-5 per cent. Considering the population that we have, demand will increase because of the availability of money in the hands of people, greater tendency of people to use vehicles than what it used to be
| Updated on: 20 - Nov - 2017
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