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Govt. to set up IIT-style petro institute in UP

Govt. to set up IIT-style petro institute in UP

In order to train professionals for the entire hydrocarbon value chain, including upstream and downstream and to meet the manpower requirement in petroleum sector in future, the central government has decided to establish a IIT-like petro institute exclusively in Uttar Pradeshs Peeparpur area.

The area which falls under Sultanpur district, would see an investment of Rs. 860 crore in the next 10 year. The Proposed institute would be named as Rajiv Gandhi Institute of Petroleum Technology (RPIT).

According to Petroleum Minsitry, out of the total Rs. 860 crore earmarked for the project, Rs 150 crore will come from Oil Industry Development Board (OIDB), basically for capital expenditure. Companies like ONGC, IOC, BPCL, HPCL and Gail will jointly contribute Rs. 250 crore for the institute. However, Rs. 45 crore under the head will come as fees and other earnings of the institute. The balance of Rs. 416 crore for capital expenditure will be met through budgetary support.

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