Current Status of Refinery Project In Rajasthan

Posted on 05/01/2016

  • The State Govt while reviewing the refinery project, observed that in order to give interest-free loan to HPCL for 15 years works out to be Rs 56000 crores, which is more than the project cost i.e. Rs 37000 crores.
  • A meeting was convened at New Delhi on 20.09.2014 CMD, HPCL & Chief Secretary, GoR along with respective senior officials. After detailed deliberations on various relevant issues like availability of water, land, resource poetential as per Carin vis-a-vis DGH forecast, selection of Configuration, IRR computation & equity structure, it was decided that a sub-committee may be constitute comprising of two members each from HPCL and GoR to deliberate uopn various issues. HPCL is to nominate Director level officers and from GoR Pr. Secretary Mines & Pr Secretary Finance have been nominated.
  • State Government has released “Expression of Interest”on 03.11.2014 from reputed financial consultant or consultancy firm/institution/company, well conversant in oil.gas & refining sector and project funding related with refinery and petrochemical complex and allied areas to evaluate and validate the basis on which incentives were sanctioned (Report of SBI Caps and NCAER) and proposed/recommend a package.
  • In this regard LoA has been issued to PWHC Consultancy firm to evaluated the project report. The consultancy firm will evaluate and analysis the projects reports and submit the Intrim report within 2 months, Subsequently  final report will be submitted by consultancy firm after the approval of State Govt. in the next month.

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