Tuesday, November 14, 2006
|Govt. to set up IIT-style petro institute in UP|
| 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.
The government in a later stage is also planning to rope in private oil companies such as Reliance, Essar and Cairn Energy.
According to sources, the government would soon introduce a Bill in Parliament to give institute the status of national importance. The institute would be one of the new schemes in 11th five-year plan. An in-principle approval has also already been granted by Planning Commission.
“The government sees massive manpower requirement by the sector in future. Additional workforce required by the hydrocarbon sector is expected to be 12,000 in 2010 and 23,000 in 2015, and the existing institutes are not equipped to meet the demand. The government considered capacity enhancement of select institutions such as Indian School of Mines and IITs, but these institutions are not exclusive in nature”, an official said.
The proposal of the institute has already drawn the support of the department of science & technology, ministry of human resource development, department of public enterprises and ministry of law & justice.
Source -- Indiaedu.com