Wednesday, March 9, 2016

Expansion mode: HPCL to invest Rs 45,000 cr by 2020

HINDUSTAN Petroleum Corp Ltd (HPCL) plans to invest Rs 45,000 crore by 2020 in expansion of its Mumbai and Visakhapatnam refineries as well as augmenting its marketing infrastructure. While Rs 21,000 crore would be invested in refining capacity expansion, Rs 9,000 crore would be spent in marketing infrastructure till 2020. Currently, HPCL...
has 13,561 petrol pumps across the country.
A total of Rs 14,000 crore would be spent for joint venture refinery projects, natural gas business and upstream oil exploration, the company said in an investor presentation.
HPCL will invest Rs 4,199 crore in expanding its Mumbai refinery capacity to 9.5 million tonnes per annum (MTPA) from current 6.5 MTPA.
It will invest another Rs 17,000 crore in expanding Visakhaptnam refinery capacity to 15 MTPA from 8.3 MTPA currently.
The investments would also help the company produce "products confirming to Euro V/VI" emission specification, HPCL said.
Another $350 million is planned to be invested in raising capacity of 9 MTPA Bhatinda refinery to 11.25 MTPA. "Additional volumes would cater to growth in demand in northern India," it said.
HPCL is also looking at doubling renewable energy capacity to 100 MW.
It is investing Rs 1,782 crore in laying new pipelines, fuel depots and LPG plants. It is building a 397 km Mangalore-Hassan-Mysore-Bengaluru LPG pipeline and 168 km Uran-Chakan LPG pipeline.
Jabalpur fuel depot in Madhya Pradesh and Loni terminal in Maharasthra are being revamped while new LPG plants at Solapur in Maharashtra, Bhopal in Madhya Pradesh, Karimnagar in Telangana and Panagarh in West Bengal are being set up.
HPCL is a Navratna oil and gas PSU and apart from various other innumerable recognitions, it enjoys a market share of 20.94 percent among PSUs in India. In the past financial year, HPCL has recorded the highest ever profit after tax of Rs 2,733 crores in the history of the corporation with an increase of around 58 percent compared to the corresponding period last year.
The oil marketing PSU turned profitable in October-December quarter. Profit came in at Rs 1,042.3 crore during the quarter against loss of Rs 320.5 crore in preceding quarter.
The PSU's revenue increased 3.4 percent to Rs 43,500.4 crore in quarter ended December 2015 compared to Rs 42,072.3 crore in previous quarter.

No comments:

Post a Comment