Hindustan Petroleum Corporation (HPCL) is planning to invest around $3.8 billion to ramp up its refining capacity by two-thirds this decade, to meet cleaner fuel standards as the country's oil demand soars. The company aims to raise its capacity to process about 500,000 barrels per day (bpd) of crude.
The company is aiming to boost the capacity of its Mumbai refinery to 190,000 bpd by July 2019 from 130,000 bpd, while the Vizag refinery in India's south will ramp up to 300,000 bpd from 166,000 bpd by July 2020.
Further, the company will also revamp its gasoline and diesel production units to meet rules on producing cleaner fuels from 2020.
HPCL operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai (west coast) of 6.5 million metric tonnes per annum (MMTPA) capacity and the other in Vishakapatnam (east coast).
| Company Name | CMP |
|---|---|
| Reliance Industries | 1445.40 |
| Indian Oil Corp. | 146.25 |
| BPCL | 308.10 |
| HPCL | 392.25 |
| MRPL | 155.30 |
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