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India's HPCL-Mittal to strat a large-scale PP plant

February 23/2012

(plasteurope) -- By April 2012, HPCL-Mittal (HMEL, Bathinda, Punjab / India) a joint venture between Hindustan Petroleum Corporation (HPCL, Mumbai / India) and Mittal Energy (Singapore) plans to commission a new 440,000 t/y PP plant at its headquarters in Bathinda. According to media reports posted on the companys website, the facility will also produce PP homopolymers.

HPCL-Mittal Energy Limited (HMEL) is a joint venture between Hindustan Petroleum Corporation Limited (HPCL) and Mittal Energy Investment Pte Ltd, Singapore - a Lakshmi N Mittal Group Company. Both the JV partners hold a stake of 49% each in the company, the rest 2% is held by financial institutions. The land mark public-private partnership company has built the 9 MMTPA Guru Gobind Singh Refinery.


HPCL is a Government of India Enterprise with a Navratna Status, and a Fortune 500 and Forbes 2000 company, with an annual turnover of  Rs. 1,32,670 Crores and sales/income from operations of Rs 1,43,396 Crores (US$ 31,546 Millions) during FY 2010-11, having about 20% Marketing share in India among PSUs and a strong market infrastructure. HPCL's Crude Thruput and Market Sales (including exports) are 14.75 Million Metric Tonnes (MMT) and 27.03 MMT respectively in the same period.

 

mrcplast.com

Author:Anna Larionova
Tags:PP.
Category:General News
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