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HPCL to revive Visakhapatnam project

Friday, 23 May 2014

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Hindustan Petroleum Corporation (HPCL) is planning to revive its refinery-cum-petrochemicals complex project at Vishakhapatnam in Andhra Pradesh, for which the company is in talks with the two oil firms.

The two companies are: Abu Dhabi National Oil Company and Kuwait Petroleum Corporation. Both the companies have evinced interest to partnering HPCL in the project. The company has so far held two rounds of discussion with them.

The refinery-cum-petrochemicals complex, with 15 million tpa capacity, is estimated to cost Rs 45,000 crore. The project has not yet made any progress in the last few years due to financial issues. The land acquisition is also an issue and the state government is yet to hand over the 3,000 acre required for the project.

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