Hindustan Petroleum Corporation (HPCL) has inked an agreement with Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) to jointly set up the world’s largest refinery and petrochemical complex at Ratnagiri district of Maharashtra at a cost of $40 billion. IOC will be the lead partner with 50% stake, while HPCL and BPCL will take 25% stake each.
Hindustan Petroleum Corporation is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.
