The Barmer refinery project of HPCL is viable despite reduction in viability gap funding, its chairman M K Surana has said.
On whether the previous MoU done by HPCL was not viable, Surana said, "Viability gap funding for the refinery project has reduced in the revised MoU, but the project is still viable for HPCL."
He said that parameters change with times.
It is our responsibility that whatever decision we take is techno-commercially viable and at the same time, it benefits people and the government.
"HPCL is a big company and we have tried exploring all technical and commercial opportunities. At the same time, we have also tried passing on the benefits to the state government and people," Surana told PTI following signing of revised MoU for Barmer refinery.
Talking about the project, he said the refinery will incorporate best of technologies used in the world so that environmental impact resulting from the refinery can be minimised.
"We will have a system to ensure that pollutants remain in optimum level and effluent water can be reused. Pet Coke, a by-product, will be used for power generation, which will also meet the power requirement of the refinery," Surana said.
Further, he said that refinery will produce petro- chemical derivatives and will provide raw material to petro- chemical industries.
He said the work for the refinery project will commence following necessary approvals required from various government authorities.
"The government has assured that a single window clearance will be set for necessary approvals for the refinery project. We are hopeful for the early approval," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)