New Delhi, March 7: HPCL plans to invest Rs 45,000 crore by 2020 to expand its Mumbai and Visakhapatnam refineries as well as augment its marketing infrastructure.
While Rs 21,000 crore will be invested in refining capacity expansion, Rs 9,000 crore will be spent in marketing infrastructure till 2020. A total of Rs 14,000 crore will go into 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 the current 6.5 MTPA. It will invest another Rs 17,000 crore in expanding its Visakhapatnam refinery capacity to 15 MTPA from 8.3 MTPA currently.
The investments will 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 the capacity of the 9-MTPA Bhatinda refinery to 11.25 MTPA. "Additional volumes would cater to growth in demand in north India," it said.
HPCL and steel baron Lakshmi N Mittal are equal partners in the Bhatinda refinery in Punjab. HPCL and Mittal Investment Sarl hold 48.94 per cent each in HPCL-Mittal Energy while the balance is with financial institutions.
The company is also partnering Mumbai-based Shapoorji Pallonji to set up a 5 MTPA LNG import terminal at Chhara port in Gujarat. The project will cost Rs 5,411 crore and "financial closure for the project has been completed," it said.
HPCL holds 50 per cent stake in the project while SP Ports Pvt Ltd, a unit of Shapoorji Pallonji Group, holds the remaining.
HPCL is also looking at doubling renewable energy capacity to 100 MW.
HPCL has 13,561 petrol pumps across the country. 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.
