India's HPCL Investing Rs 37,000 Crore In Rajasthan Refinery & PC Complex

摘要

New Delhi— India's Hindustan Petroleum Corp. Ltd. (HPCL) plans to soon sign a memorandum of understanding to invest Rs 37,000 crore to build a 9-million-t/y refinery and petrochemical complex in Barmer, Rajasthan, India, reported the Hindu. The Rajasthan government, which will hold a small interest in the complex, is offering HPCL financial benefits for the project, including a 50% exemption in excise duties. Oil and Natural Gas Corp. (ONGC) had initially committed to undertaking the project, but did not pursue the plan. ONGC has recently expressed interest in participating with HPCL.