In a meeting held in Delhi on Tuesday, top officials of Hindustan Petroleum Corporation Ltd and Rajasthan government deliberated on the ways to raise capital to implement the Rs 43,129 crore refinery at Pachpadra.
Sources said the meeting was held between HPCL chairman and managing director M K Surana and additional chief secretary, finance, D B Gupta who thrashed out various options for raising the funds from banks. As the state is going to polls in less than a year, the government is keen to lay the foundation stone for the project by Prime Minister Narendra Modi so that it does not lose out electorally. It was first expected that the prime minister will do the ritual in the month of September. While the state government keeps waiting for the ground breaking ceremony to be done by Modi, his unavailability is pushing the deadline month by month.