HPCL Oil Refinery in Rajasthan

Hi I am interested in having the information about the meeting which have been taking place between Rajasthan Government and Hindustan Petroleum Corporation Limited (HPCL) over the stalled oil refinery extend at Barmer?

[Rajkumar Agarwal]

To think over purposes of arrangement on the stalled oil refinery extend at Barmer, representatives of the Rajasthan government and the Hindustan Petroleum Corporation Limited (HPCL) have been meeting to talk about the issue.

The Rs. 40,000-crore refinery extend, Memorandum of Understanding for which was inked amid the Congress government, has been confronting challenges under the current BJP government.

Chief Minister, who didn't support the arrangement inked between the congress government and the HPCL, has been renegotiating the terms for setting up the refinery.

HPCL introduced its answer to the legislature in light of the report by PricewaterhouseCoopers, which has been named by the State government as its counseling organization on the refinery extend.

An official source introduce at the meeting said that the State government needed HPCL to cut down its interior rate of return (IRR) to 12 for every penny to 13 for each penny, rather than the 15 percent IRR that is being focused by the HPCL.

In spite of the fact that both sides exhibited their side of contentions, it would set aside more opportunity to reach on an agreement over different focuses identified with the venture, the authority said.