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