JAIPUR: With its rich mineral wealth and progressive policies, Rajasthan is emerging as a prime destination for mining and petroleum investments. The state has recently signed MoUs worth ₹1.7 lakh crore, reflecting strong investor confidence. As Rajasthan gears up for a sustainable mining conference, its refinery and petrochemical projects are also moving towards completion, paving the way for economic growth and industrial expansion.T. Ravikant, IAS, Principal Secretary, Mines & Petroleum, Government of Rajasthan, shared his insights on the emerging investor-friendly ecosystem in the sector in the state, with ETGovernment’s Deputy Editor Kartik Sharma.Edited excerpts:
Q: Rajasthan is known for its rich mineral and petroleum resources. What kind of interest have investors shown in these sectors?
There is a tremendous interest from investors. In the past three to four months alone, we have signed Memorandums of Understanding (MoUs) worth ₹1.7 lakh crore in both the petroleum and mining sectors. The major areas of investment include petroleum, limestone, and iron ore. Additionally, we recently launched two key policies – the Mines Policy and the Rajasthan Mineral Policy 2024, which have generated a lot of excitement among investors.
Q: Rajasthan is hosting a conference on sustainable mining. Can you tell us more about it and its significance?
Rajasthan has 82 different minerals, the highest in India. While we have abundant resources, it is essential to adopt responsible and sustainable mining practices. This conference will focus on sustainable mining, featuring experts from India and Australia. Additionally, Honorable Minister for Mines & Coal, Mr. G. Kishan Reddy, will also participate in the discussion. We have assembled a strong panel to address this important topic.
Q: There is always significant interest in Rajasthan’s petroleum refinery. Can you share the current status and future plans?
The refinery project consists of two parts: the refinery itself and the petrochemical complex. Most refinery units are in their final stages of mechanical completion, and within three to four months, we expect to begin trial operations. The petrochemical complex will take a bit longer to complete. Meanwhile, Rajasthan Industrial Development Corporation (RIICO) is developing the Rajasthan Petrochemical Zone, which will facilitate the growth of downstream industries based on petrochemicals.Q: What message would you like to convey to stakeholders in the mining and petroleum sector?
Rajasthan is a leader in auctioning major minerals, ensuring transparency and quick decision-making. Our policies are progressive and investment-friendly, offering immense opportunities for stakeholders. We welcome investors to explore and benefit from Rajasthan’s rich mineral and petroleum potential.
