Govt signs deal for Hydrocarbon project in Neduvasal

The Government of India signed a contract for the Discovered Small Fields (DSF) Bid 2016 with GEM Laboratories for extracting Hydrocarbons at Neduvasal, in Tamil Nadu.

The contract was one of the many signed for 31 areas under the DSF Bid Round 2016.  The estimated total revenue would be approximately Rs 46,400 crore, of which royalty collection and Government’s revenue share is expected to be around Rs 5,000 crore and Rs 9,300 crore, respectively. It is also estimated that employment for about 37,500 persons would be generated through these fields.
Takeaways from above News-
  • Govt of India signed contract for extracting Hydrocarbons at Neduvasal, Tamil Nadu
  • Edappadi K. Palaniswami is the Chief Minister of Tamil Nadu
  • C.Vidyasagar Rao is the governor of Tamil Nadu.

 If you have any other takeaways, do share with us in the comment section

Source- The Hindu

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