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(Plastemart) -- In a bid to revive
the delayed USÂ10 bln refinery cum petrochem project planned at Vizag, Hindustan
Petroleum Corp Ltd (HPCL) is in talks with BP Plc and Total SA of France. Both
the foreign partners seem to have renewed interest in the project, and the
Mittal group is likely to return.
As per original plans the HPCL-led consortium included steel billionaire
LN Mittal's group, Total of France, state-owned Oil India and GAIL. However,
demand too weak to justify investment led to suspension of the project in 2009.
It is likely that success of Rs 18.919 crore Bhatinda refinery, which has been
built by an equal joint venture of HPCL and Mittal Investment Sarl in flat
three-and-a-half -years, has renewed interest in the Vizag project.
mrcplast.com
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