Hindustan Petroleum Corporation (HPCL) is planning to invest as much as Rs 61,000 crore over the next five years. This step is being taken in order to augment its refining and marketing capacity to become the country’s second-largest state-owned refiner after Indian Oil Corporation (IOC). Of the planned investment of Rs 61,000 crore, the company intends to invest Rs 7,110 crore this year alone or 21% more than capex of Rs 5,860 crore in the last fiscal.
HPCL 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.
