Rajasthan Current Affairs

Government inks $100 million loan agreement with NDB for Rajasthan Water Project

Government has signed second Loan Agreement with New Development Bank (NDB) for financing of Rajasthan Water Sector Restructuring Project for the Desert Areas. This is the first tranche loan of $100 million was approved by the NDB under Multi Tranche Financing Facility of $345 million for this project.

Rajasthan Water Sector Restructuring Project

The objective of the project is to rehabilitate 678 km long Indira Gandhi Nahar Project (IGNP) built during 1958-63 to prevent seepage, conserve water, and enhance water use efficiency as mandated by both national and state level policies on water use. The project will enable arresting the seepage by rehabilitating the deteriorating canal lining of IGNP system which needs urgent attention. Its implementation period is of 6 years.

The project is aimed at arresting seepage by refurbishing canal, modernisation of irrigation management practices by involving water users’ associations, strengthening of drinking water supply and irrigation facilities and rehabilitation of waterlogged areas.

New Development Bank

NDB is multilateral development bank promoted by BRICS nations viz. Brazil, Russia, India, China and South Africa. It is outcome of 6th BRICS Summit being held in Fortaleza, Brazil. It is headquartered in Shanghai, China. It will have a regional office in Johannesburg, South Africa.

NDB began its operations in July 2015 with an initial capital of 100 billion dollars. The goal of the bank is to fund infrastructure projects in emerging economies for sustainable development. In the NDB, each participant country has been assigned one vote, and none of the countries have veto power.

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PM inaugurates Rajasthan’s first oil refinery at Barmer

Prime Minister Narendra Modi inaugurated HPCL Rajasthan Refinery Ltd (HRRL) project commencement of oil refinery in Rajasthan’s Barmer district. It is first oil refinery to be set up in Rajasthan.

The project is undertaken as joint venture between Hindustan Petroleum Corporation Limited (HPCL) and the Rajasthan government. HPCL owns 74% stake in the project, while the state government owns 26%.

Key Facts

The project includes refinery and petroleum complex of 9 MMTPA capacity. It is expected to be operational in 4 years (2022-23) at a cost of Rs 43000 crores. It is largest investment in the state till date. It is expected to give major impetus to state’s economy and will bring to the state an additional income of Rs 34000 crores.

It is also expected to generate thousands of direct and indirect employment opportunities. Further, it is expected to bring an unprecedented surge in ancillary units, infrastructure development, improvement of healthcare services and establishment of education institutions in Western Rajasthan,

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