Rajasthan Government Signs MOUs Worth Rs. 30,530 Crore With Petroleum Companies

JAIPUR, India, September 10, 2015 /PRNewswire/ --

As a precursor to the forthcoming Resurgent Rajasthan Partnership Summit 2015, the government of Rajasthan today signed Memoranda of Understanding (MOUs) worth Rs. 30,530 crore with nine petroleum companies in Jaipur. The Union Minister of State, Ministry of Petroleum & Natural Gas (Independent Charge), Mr. Dharmendra Pradhan; the Chief Minister, Rajasthan, Smt. Vasundhara Raje; Minister of State for Mines & Petroleum (Independent Charge), Mr. Rajkumar Rinwa; and the Chief Secretary, Government of Rajasthan, Mr. CS Rajan were present on the occasion.

On behalf of the government, the MOUs were signed by Principal Secretary, Mines and Petroleum, Government of Rajasthan, Mr. Ashok Singhvi with public sector, MNC and private companies in the petroleum sector.

The Chief Minister, Smt. Vasundhara Raje said on the occasion, "This MOU signing ceremony is an appropriate curtain raiser for the Resurgent Rajasthan Partnership Summit 2015. The state government shall provide all possible assistance to the investors, who for us are partners in development. These MOUs will facilitate city gas distribution, pipeline network and terminals for exploration as well as production activities."

The Chief Minister also said that the government was committed to setting up the proposed refinery project in the State since the domestic crude produced was being exported without any value addition. Incentives would be offered as required, and the review report of the refinery project would be submitted to the Central government by the end of this month. She said petroleum and its products 'fuel' economies, and were symbols of prosperity.

The Union Minister of State, Ministry of Petroleum & Natural Gas (Independent Charge), Mr. Dharmendra Pradhan also assured that the refinery project would be considered for setting up in Rajasthan once the review report of the refinery project was received. He said that efforts would be made to convert Jaipur - Delhi route into a green energy corridor.

He further added that the MOUs would facilitate infrastructure projects in oil and gas exploration.

The MOU details are as follows: Cairn India Ltd, Gurgaon for Exploration & Production in Block RJ-ON-90/1 with an investment of Rs. 12,500 crores; GSPL Gasnet India Ltd for Rajasthan portion of Mehsana-Bhatinda Natural Gas Pipeline worth Rs. 5,000 crores (Its Rajasthan part will pass through Bhilwara); Focus Energy Ltd, New Delhi for Exploration & Production (E&P) in Block RJ-ON-6 for an investment of Rs. 3,730 crores; GAIL (India) Pvt Ltd, New Delhi for the CNG & CGD Project and PEL Block with an investment of Rs. 3,000 crores; Rajasthan State Gas Ltd for the Development of Gas & Pipelines Infrastructure, CNG & CGD Network worth Rs. 2,700 crores; IOCL, New Delhi for CGD Project and Distribution Network worth Rs. 2,300 crores; ONGC, Rajasthan Project, Jodhpur for E&P activities with an investment of Rs. 500 crores; OIL, Rajasthan Project, Jodhpur for E&P activities with an investment of Rs. 500 crores and Deep Industries Ltd., Ahmedabad for the Development of three onshore Marginal Fields located at Ghotaru, Bankia and Kharatar in Jaisalmer District for an investment of Rs. 300 crores

The investment plan of the MOUs will be implemented over a period of three years from 2015.

About Resurgent Rajasthan Partnership Summit 

The Resurgent Rajasthan Partnership Summit, scheduled to be held in Jaipur on November 19-20, 2015, will bring together leading investors from all over the world for interacting with policy makers, including the political leadership, government officials and local business leaders on the investment environment and opportunities in Rajasthan. The summit is being organized by the Government of Rajasthan in association with the Confederation of Indian Industry (CII). The summit will have thematic seminars, conventions, panel discussions, discussion forums, B2B & B2G meetings, exhibition pavilions and other networking programmes. The State government expects a significant surge in global investor interest and definite commitment to invest as a result of the Resurgent Rajasthan Partnership Summit. For further information, please visit our website http://resurgent.rajasthan.gov.in/ . 

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