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Hindustan Petroleum to invest US$6.7 bln in 18 mln tpa refinery

November 18/2010

(Plastemart) -- India's state-owned Hindustan Petroleum Corp. Ltd (HPCL) plans to invest Rs 30,000 crore (US$6.7 bln) to set up an 18 mln tpa refinery in the state of Maharashtra.


The new refinery was conceptualised to make up for space constraints at HPCL's existing Mumbai Refinery. HPCLs existing 6.5 mln tpa Mumbai refinery is situated in a plot measuring just 350 acres vs standard requirement of over 2,000 acres of land for a refinery of this size.


Currently 1,800 acres of land is available with MIDC (Maharashtra Industrial Development Corp), and the company has asked for an additional 1,000 acres between Ratnagiri and Raigad. Engineers India has been appointed to carry out a feasibility report on the proposed refinery, expected to be ready by December. The options being weighed are one single unit of 18 mln tpa or two units of 9 mln tpa capacity each.


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