Question: Recently, an agreement was signed between Rajasthan government and Hindustan Petroleum Corporation (HPCL) to set up a refinery (joint venture) in Barmer. How much stake will the Rajasthan government have in this joint venture?
(a) 74 percent
(b) 54 percent
(c) 48 percent
(d) 26 percent
Answer: (d)
Related Facts:
- On August 17th, 2017, State Government of Rajasthan signed an agreement with the Hindustan Petroleum Corporation Limited (HPCL) to set up a joint venture company for setting up the project (Barmer Petroleum Refinery-cum-Petrochemical Complex).
- As per the agreement, HPCL will have 74% and the state government 26% partnership in the new firm called HPCL Rajasthan Refinery Limited (HRRL).
- The total cost of this project is Rupees 43,129 crores.
- Barmer refinery would be the country’s first refinery project (environmentally friendly) to produce BS-VI emission standards.
- This will be the country’s first project where refineries and petrochemicals will be together.
- About 270 MW power would be generated from the waste pet coke generated from the refinery.
- A green zone would be established in the refinery campus.
- The entire construction work of this project would be finished in a record time of four years.
- It is mentionable that Union Government gave approval to the Barmer Petroleum Refinery-cum-Petrochemical Complex on August 16th, 2017.
Reference:
http://vasundhararaje.in/cm-rajashan-refinery-joint-venture-17082017.html
http://businessworld.in/article/Rajasthan-Government-Signs-JV-Pact-With-HPCL-For-Barmer-Refinery/17-08-2017-124242/
http://www.business-standard.com/article/news-ians/rajasthan-hpcl-ink-pact-for-rs-43-000-cr-refinery-117081701275_1.html