Visakhapatnam, September 13, 2006
Expansion plan to cost about Rs. 18,000 crores
The Hindustan Petroleum Corporation Visakha Refinery is going to expand its capacity and set up petrochemical production facilities at an estimated cost of Rs.18,000 crore. Speaking at a press conference on Wednesday, HPCL Visakha refinery Executive Director AS Rao said that the refinery capacity would be expanded from present 8.3 mmtpa to 15 mmtpa by the end of 2010 at an estimated cost of Rs.9,000 crore. It also planned setting up of petochemical complex at Special Economic Zone (SEZ) with a total investment of 9,000 crore for which the State Government has to provide land and discussions were going on.
The Corporation has undertaken a lot of initiatives for expansion of profitability improvement. Single Point Mooring (SPM) facility with Crude Oil Terminal (COT) was also being put up at an estimated cost of Rs.600 crore. He said that the HPCL has reached a new milestone during the year 2005-06 financial year by exporting 1mmpta of all products for the first time.
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