Hindustan Petroleum Corp Ltd (HPCL) is in talks with BP Plc and Total SA of France to revive the stalled $10 billion refinery-cum- petrochemicals project at Vizag in Andhra Pradesh. An HPCL-led consortium, which included steel billionaire LN Mittal’s group, Total of France, state-owned Oil India and GAIL, had in 2009 put the project on hold as petrochemical demand then was seen as too weak to justify the investment. While OIL and GAIL stayed with the project, Mittal had in November 2008 put on hold his investment in the project. In the following year, Total exited the project, forcing HPCL to freeze the project that involved setting up a 14-million-tonne refinery and an one million tonne petrochemical plant at a cost of Rs 45,000 crore ($10 billion).crackcrack
