OPEN APP
Home >Companies >HPCL revives $4 bn refinery, chemical plan

New Delhi: Hindustan Petroleum Corp. Ltd (HPCL), India’s third biggest state-run refiner, has revived plans to build a Rs20,000 crore in Andhra Pradesh. This project is for meeting demand in the country as well as for exports to other Asian nations, K. Murali, director of refineries, said.

HPCL had last year postponed the plan to build a 15 million tonne (mt) refinery and a 2.5 mt petrochemicals plant near its existing 7.5 mt facility at Visakhapatnam.

HPCL may borrow as much as 70% of the funds needed to build the Visakhapatnam project, Murali said.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout