Hindustan Petroleum to invest Rs 45,000 crore in infra expansion – Feedback

State-run oil marketing company (OMC) Hindustan Petroleum Corp Ltd (HPCL) plans to invest Rs 45,000 crore by 2020 in capacity expansion of its Mumbai and Visakhapatnam refineries, along with augmenting of its marketing infrastructure.

While Rs 21,000 crore would be invested in increasing refining capacity, Rs 9,000 crore would be spent in marketing infrastructure, till 2020, the company said in an investor presentation over the weekend, as communicated to the stock exchange. A total of Rs 14,000 crore would go into joint venture refinery projects, natural gas business and upstream oil exploration. The oil marketer will invest Rs 4,199 crore in expanding its Mumbai refinery capacity to 9.5 million tonnes per annum (MTPA) from the existing 6.5 MTPA, and another Rs 17,000 crore in expanding its Visakhaptnam refinery to 15 MTPA capacity, from the current 8.

http://economictimes.indiatimes.com/industry/energy/oil-gas/hindustan-petroleum-to-invest-rs-45000-crore-in-infra-expansion/articleshow/51299562.cms

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