HPCL to build a $6.9-billion refinery and petrochemical complex in Rajasthan, India

State-owned Hindustan Petroleum Corp. Ltd. (HPCL; Mumbai) says it has signed a memorandum of understanding on 14 March with the local government in the state of Rajasthan, India, for building a 9-million m.t./year refinery and petrochemical complex at Barmer in Rajasthan. The project, which will be joint venture with the Rajasthan State Refinery Ltd. and other equity partners, will involve a total investment of about 372.3 billion Indian rupees ($6.9 billion), HPCL says. HPCL will hold a majority stake in the project, which is expected to become operational four...

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