Prime Minister Narendra Modi on Saturday inaugurated the country’s first greenfield integrated refinery-cum-petrochemical complex at Pachpadra in Rajasthan’s Balotra district, marking a significant milestone for India’s energy and petrochemical sectors.
Addressing a gathering at Balotra, Modi said the project reflected India’s progress towards becoming a developed and self-reliant nation.
“Today, a refinery has been dedicated to the nation from this land. Thousands of people in the region will benefit from employment opportunities created by this refinery. I especially congratulate the youth of Rajasthan. Today is proof that BJP governments do not merely lay foundation stones and abandon projects. We work tirelessly to ensure they are completed,” the Prime Minister said.
Built at an investment of over Rs 79,450 crore, the 9 Million Metric Tonnes Per Annum (MMTPA) greenfield refinery-cum-petrochemical complex has been developed as a joint venture between Hindustan Petroleum Corporation Limited (HPCL) and the Rajasthan Government.
It is expected to boost domestic fuel production, increase petrochemical output, and create jobs in the region. It has a refining capacity of 9 MMTPA and a petrochemical capacity of 2.4 MMTPA.
The plant is designed to process both imported and locally produced crude oil from Rajasthan. India now has the tactical freedom to source crude depending to the price of the world market.
In order to secure crude feedstock and water supply, the complex is supported by an 800 km cross-country pipeline network that connects to the country’s major ports, including Mundra, Palanpur, Mangla, and Nachna.
In his speech, PM Modi noted that West Asia war had triggered the largest energy crisis of the 21 century, but India successfully overcame the challenge through timely decisions, effective diplomacy and prudent management of national resources.
He claimed that although many nations suffered from fuel shortages, India carefully evaluated the situation, developed a workable plan, and employed its diplomatic might to protect the nation’s energy security.
Furthermore, PM Modi highlighted that claimed that the government prevented domestic cooking gas prices from rising sharply despite the unrest around the world.
He added that although the crisis would have caused the cost of an LPG cylinder to rise to almost Rs 2,000, effective management made sure that customers would still be able to purchase cylinders for about 950 rupees.
He continued by saying that oil marketing firms lost around 75,000 crore rupees on petrol and diesel between April and June, a cost paid by the government to shield the citizens from the effects of skyrocketing global fuel prices.
