Ad Here  
PSU non-life firms seek to protect share LVB posts 31 per cent growth in Q1 net profit The unexpected exit Smooth sailing of SAIL Smartphone onslaught by Chinese brands From the toughest to the best year A welcome initiative-even critics are recognised TVS Automobile invests Rs.75 crore in start-up firms Housing demand revival Tata Motors charts investments in PV and CV businesses Ponni Sugars (Erode) Ltd: not so sweet 2012-13 Titan Company – sales recovery to kick in AL secures orders for 3600 buses Gamesa to set up a plant in Nellore Tata gets 4-star rating for Zest New India Assurance posts impressive show Sundram Fasteners rejigs international It takes two to tango M & M unveils driverless technology for tractors Are they really independent? Bajaj Finserv – Q1: fare well Record two-wheeler sales Michelin to double Chennai capacity Welcome focus to improve rural India... Hindalco – re-rating Forging industry worried over lower supply of steel and its price Last stages Increasing market share HPCL plans Rs.61,000 crore capex over 5-years Tata Steel, ThyssenKrupp sign MoU to merge European units Sivasankaran enters taxi space to take on Uber and Ola IOB on turnaround path Ode to Ratan Tata Singur minus Nano – victory or folly? TI Cycles plans retail expansion to drive sales for premium bicycles Wabco launches safety system ITC – steep excise hike Tata Motors bets on new launches AL wins Deming prize again Preparing for the next growth curve Toyota and Suzuki to introduce EVs in India by 2020 Kone India eyes further growth in elevator market A niche in FMCG business... Shriram Life clocks more than Rs.1000 crore premium in 2015-16 TN government keen on revival of operations at Nokia complex The gainers and the losers Rane targets Rs.5500 crore topline by 2018-19 Aurobindo Pharmacy: good turnaround He excels in the nuts and bolts of entrepreneurship AL introduces Guru & Partner Nissan exit shouldn’t affect ALL Hyundai to focus on SUVs and AMT variants Mercedes-Benz sales continue to zoom Tata Motors aims to be among the Top 3 global CV & PV firm L & T’s floating dock for navy Tata Motors joins compact SUV bandwagon with Nexon ITC chairman calls for policy impetus to transform agriculture Chinese smart phones flourish in small towns too! Hyundai India achieves 7 mn production at Chennai factory Back in growth mode 29 per cent jump in TCS revenues E.I.D Parry (India) Ltd: another sweet year L&T bags the Mumbai Trans-harbour link order Consolidating leadership position in smartphones Is this a generation gap? Solar installations exceed 2015 capacity in five months Dish TV – subscriber additions encouraging L & T set bigger ambitions in defence business Right to privacy – now it’s fundamental! Daimler’s truck exports from Chennai cross 5000 units Daimler grows sales and share in India PPP model for infrastructure development Carnival Films acquiring 3000 screens pan India V-Guard launches app-enabled water heater system CAPITAL NOTES L&T profit up by 11 per cent Land wars Yamaha unveils scooter boutique Vellayan is back, after 150 days TVS Srichakra plans capacity expansion Maruti – for young buyers RoC in the dock... When small is not so beautiful… Emami – a new growth mantra Eyes strong growth in 2016-17
HPCL plans Rs.61,000 crore capex over 5-years

Hindustan Petroleum Corporation Ltd (HPLC) is planning a capex of Rs.61,000 crore over the next five years for future growth, Mukesh Kumar Surana, Chairman and Managing Director of HPCL, said at the company’s Annual general meeting.

To increase competitiveness, HPCL has undertaken investments for enhancing refining capacity. Vizag refinery modernization project (VRMP) has received environmental clearance for increasing the refining capacity from 8.33 MMTPA to 15 MMTPA at cost of Rs.20,928 crore. It includes bottom upgradation facilities and will make refinery capable of producing BS VI compliant motor fuels. It will improve the complexity of the refinery and add to the overall GRM, he said.

Under Mumbai Refinery expansion project (MREP) refinery capacity is being enhanced from 7.5 MMTPA to 9.5 MMTPA with capabilities to produce BS VI fuels at the cost of Rs.4199 crore. Project activities for both the projects are on track.

HPCL has recently signed a revised memorandum of understanding and joint venture agreement with Government of Rajasthan for setting up of a 9 MMTPA refinery-cum petrochemical complex at Barmer at a cost of Rs.43,129 crore. 

In this Joint venture, HPCL will hold 74 per cent stake while Government of Rajasthan will have a 26 per cent stake. 

“This will be the first integrated grass root refinery-cum-petrochemical complex being set up in the country  catering to BS VI fuel specifications right from inception,” said Surana. 

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236