Published on May 8, 2017
HPCL and its partner Lakshmi N Mittal will be investing around 3billion dollar in esgtablishing a petrochemical unit at their Bhatinda refinery in Punjab. HPCL-Mittal Energy Ltd (HMEL) is planning to set up 1.7 million tones of naphtha cracker unit to produce basic raw material for making plastics.
"It will be a 1.2-million tonne plant, expandable to 1.7 mt," HPCL Chairman and Managing Director M K Surana said here. Around 4 year period is likely to take in setting up this plant.
"We have land and other infrastructure at the Bhatinda refinery," he said, adding that the project will be formally announced shortly after investment approvals. He said the USD 350 million expansion of Bhatinda refinery capacity to 11.25 mt per annum from the current 9 mt will be completed next month. The refinery has taken its first 45-day maintenance shutdown to complete hooking up of the new units, he said, adding that additional volumes will cater to growth in demand in northern India. This will be HPCL's first petrochemical plant in Northern India. The company has refineries in Mumbai and Visakhapatnam.
