HPCL on major expansion drive with Rs 60,000-crore capex

Hindustan Petroleum Corporation Ltd (HPCL) is planning a major expansion drive with Rs 60,000-crore capital expenditure.

The oil ‘Navaratna’ is likely to increase the amount by about Rs 15,000 crore if some other projects under consideration are included.

J Ramaswamy, the company’s Director – Finance, was quoted as saying by Business Line: “The investment is three-pronged – it will lead to huge capacity expansion, augmenting BS VI compliant fuels, bottom upgradation and consolidation at the existing refining and processing facilities, and a greenfield project.”

“The Vishakapatnam refinery complex will see a total investment outlay of Rs 21,000 crore, which will see the expansion of the refinery from 8.3 mtpa to 15 mtpa,” Ramaswamy said and added that it will also cover the production of BS VI fuels and bottom upgradation.

Image Credit : images.financialexpress.com

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