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Chemical Week Magazine :: Business & Finance :: Asia/Pacific

HPCL gets nod for $6-billion refinery and petchem project

7:01 AM MDT | October 11, 2013 | —Deepti Ramesh

The Indian government says that its cabinet has approved Hindustan Petroleum Corp. Ltd’s. (HPCL; Mumbai) 9-million m.t./year greenfield refinery and petrochemical complex at Barmer, in the state of Rajasthan, India. The project will involve a total investment of about 372.3 billion Indian rupees ($6.02 billion). HPCL is owned by the government of India. HPCL signed a joint venture agreement in July with the local government in Rajasthan for building the refinery and petrochemical complex. HPCL will hold a 74% stake in the jv, and the government of Rajasthan...

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