Trending Large Cap Stock : HPCL plans to invest Rs.61000cr for expansion plans
DSIJ Intelligence / 17 Jul 2017
HPCL is planning to upgrade its Mumbai and Visakh refinery to produce quality fuel to meet EURO-VI emission norms.
HPCL, a state-owned corporation has mentioned in its presentation that, to meet the higher quality fuel norms, the company will invest Rs.61000cr by 2021.
Out of Rs.61000 crore, 38% of investment will be for refining (Rs. 23,400 crore),39% will be for marketing and infrastructure (Rs. 23,600 crore) and 21% will be for joint venture projects (Rs. 13,000 crore).
HPCL is planning to upgrade its Mumbai and Visakh refinery to produce quality fuel to meet EURO-VI emission norms.
With the investment of Rs.20928 crore, it will expand its Visakh refinery to 15 million tonnes by July 2020.Further, it will also expand its Mumbai refinery to 9.5 million tonnes /year.
Company’s joint venture investment plan includes 5 million tonnes LNG import terminal at Chhara, petrochemical complex at Kakinada, fuel farm facilities at Mumbai airport.
Going ahead, an official explained that these investments will not change even if ONGC gets an approval for its proposal to buy out 51.1 stake in HPCL.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.