Mining conglomerate Vedanta has set aside more than Rs20,500 crore towards investment in oil and gas and zinc business in Rajasthan over the next three years. While Cairn India will invest Rs12,500 crore over the next 3 years, Hindustan Zinc (HZl) has marked Rs8,357 crore for the same period.
“With focus on Resurgent Rajasthan Summit to be held in Jaipur on November 19-20, 2015, Vedanta has signed MoUs to invest over Rs20,000 crore for the expansion of zinc-lead mines and oil business in Rajasthan,” the firm said. Cairn India signed the MoU for crude oil production to the order of 1,75,000 barrels per day (bbls/day) and 3 lakh cubic metre per day natural gas for supply to the Gujarat Narmada Fertiliser Corporation from 3 petroleum mining lease areas, it added.
“Cairn India would be developing Mangla-Bhagyam extended oil recovery polymer and Mangla-Aishwariya in-fills, setting up Sulphate Removal Plant and developing RGD Field, which lays the foundation for sustainable gas production,” it said.
The firm will undertake these projects in Barmer and Jalore districts of Rajasthan. HZl CEO Sunil Duggal told PTI: “HZl has been working closely with the Rajasthan government not just towards expanding business operations, but also for social projects.