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Gail inks pact with HPCL for Andhra Project

Tuesday, 28 May 2013
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Hindustan Petroleum Corporation (HPCL) has inked a pact with Gas Authority of India (Gail), to revive a petrochemical project in Andhra Pradesh.

The project is estimated to cost Rs 32,000 crore. HPCL is planning to set up a 15 million tpa refinery project in Visakhapatnam. In addition to the refinery, HPCL has also proposed a petrochemicals complex. The Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) project in the state could not take off for over six years as HPCL was plagued by troubles.

In the meanwhile, HPCL is seeking a foreign petrochemicals partner for crude supplies. It has sought one month's time to submit its revised project proposal with finer details. However, it is still at a preliminary stage and details are being worked out.


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