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Regular-article-logo Tuesday, 09 September 2025

RS 1,250 CR HIND PETRO INVESTMENT IN PIPELINE 

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FROM VIVEK NAIR Published 09.06.99, 12:00 AM
Mumbai, June 9 :     Hindustan Petroleum Corporation Ltd (HPCL) plans to invest around Rs 1,250 crore to build a pipeline from Mangalore to Bangalore and extend the Visakhapatnam-Vijayawada pipeline to Secunderabad. HPCL officials said the company will invest over Rs 500 crore in extending the Visakhapatnam-Vijayawada pipeline to Secunderabad. HPCL will use the pipeline to transport its entire range of products, which is about 4 million tonnes per annum, processed at its Vishakhapatnam refinery. HPCL is planning to invest around Rs 750 crore in the Mangalore-Bangalore pipeline project. The pipeline will have a capacity to carry around 5.6 million tonnes of crude oil. The project is being implemented by Petronet India in which HPCL has a stake. Sources said efforts are on to rope in another partner in the proposed pipeline. They said negotiations are going on with Mangalore Refineries and Petrochemicals Ltd?a joint venture between HPCL and the A V Birla group?for a stake in the project. HPCL is also implementing a grassroots refinery, of 9 million tonnes annual capacity, at Bhatinda in Punjab, and is keen to invite a foreign company as partner to implement the project. Negotiations in this regard are believed to be at a preliminary stage. The corporation is also planning to expand the capacity of its Visakhapatnam refinery from 4.5 million to 7.5 million tonnes to be completed by September. The corporation has drawn up a blueprint to strengthen its refining and marketing infrastructure and set into motion its vertical integration plans by incorporating a new company, Prize Petroleum, that will take part in oil exploration and production ventures in India and abroad. HPCL officials said the company is exploring the possibility of offering equity stake in Prize to an international oil major; talks in this regard are at a preliminary stage, they added. A foreign collaborator is essential as the company lacked necessary expertise in upstream ventures, the officials said.    
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