New Delhi, April 8 -- The Cabinet Committee on Economic Affairs on Wednesday approved a substantial revision in the cost of the HPCL Rajasthan Refinery Limited (HRRL) project at Pachpadra in Rajasthan, raising it from Rs 43,129 crore to Rs 79,459 crore, along with additional equity investment by Hindustan Petroleum Corporation Limited.
Briefing reporters after the Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw said the government has also approved an additional equity investment of Rs 8,962 crore by HPCL, taking its total equity contribution in the project to Rs 19,600 crore. The refinery is being developed by HPCL Rajasthan Refinery Limited, a joint venture between HPCL and the Government of Rajasthan, with equity...