SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Hindustan Petroleum Plans $5.4 Billion Plant to Double Capacity

15 Feb 2010 Evaluate

Hindustan Petroleum Corp., India’s third-biggest state refiner, plans to build a crude oil processing plant that would more than double its current capacity. The proposed plant would be capable of refining as much as 20 million metric tons a year of oil and cost about 250 billion rupees ($5.4 billion) to build. A study will be done in a year and the refinery planned along the coast south of Mumbai may be completed in five years.

 

Indian refineries are expanding capacity to meet demand in Asia’s third-biggest energy consumer while oil companies including Royal Dutch Shell Plc and Valero Energy Corp. shutter plants in the U.S. and Europe because of low demand and profits. India’s total energy consumption may more than double by 2030 to 833 million tons of oil equivalent, based on current trends, driven by population growth and an industrial build-up, according to the Paris-based International Energy Agency.

 

Hindustan Petroleum owns a 6.5 million ton-a-year refinery in Mumbai, which it is expanding to 7.5 million tons, and a 7.5 million ton-a-year plant at Visakhapatnam in Andhra Pradesh state. Expansion work on both plants is expected to start in April, boosting their combined capacity to 15.3 million tons. While its 9 million ton-a-year refinery, being built in a venture with billionaire Lakshmi Mittal at Bhatinda in north India is expected to be ready by May 2011.

 

Indian Oil Corp., the nation’s second-biggest refiner, is constructing a 15 million ton-a-year refinery in the eastern state of Orissa. Bharat Petroleum Corp. and Oman Oil Co. are building a 6 million ton-a-year plant in central Madhya Pradesh state and Nagarjuna Fertilizers and Chemicals Ltd. a plant in Tamil Nadu state.

crackcrack

HPCL Share Price

349.00 -11.75 (-3.26%)
13-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1314.55
Indian Oil Corp. 141.05
BPCL 292.65
HPCL 349.00
MRPL 170.90
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×