HPCL to Spend Rs 17,000 Crore to Expand Mumbai, Visakhapatnam Refinery Capacity
Hindustan Petroleum Corp Ltd (HPCL) aims to increase its Mumbai refinery's capacity to 200,000 barrels per day from 130,000 bpd, it said in a statement on Wednesday.
The state-run company also aims to increase the Visakhapatnam refinery's capacity to 300,000 bpd from 166,000 bpd.
HPCL will spend Rs 17,000 crore ($2.88 billion at $1 = 59.0250 rupees) for expanding the refineries, said B K Namdeo, HPCL's head of refineries.
"After getting the environment approval, we hope to complete Vizag expansion in three years and the Mumbai plan in two to two-and-a-half years," Mr Namdeo said.
He said he hopes HPCL should be able to get the environment approval by the end of this year.
Copyright @ Thomson Reuters 2014
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