HPCL

HPCL to invest Rs 1,000 cr for LPG Cavern in Mangaluru

Hindustan Petroleum Corporation Limited (HPCL) has decided to set up an underground liquefied petroleum gas (LPG) storage facility in Mangaluru.

M K Surana, chairman and managing director, HPCL, said, “We are reviewing the proposal and seriously thinking of setting up a facility. An announcement will be made soon.”

According to Surana, his company may set up the facility with France’s Total SA, or may venture alone. The cavern, will be second such facility in India, to be set up at about ₹ 1,000 crore. Total SA and HPCL both have an LPG import facility in Mangaluru.

HPCL and Total SA, through their joint venture, South Asia LPG (SALPG), operate a 60,000-tonne capacity underground LPG storage facility in Visakhapatnam, in Andhra Pradesh.

Image Credit : khabarindia.in