Hindustan Petroleum Corporation Limited is very keen on expanding its twin projects – expanding Visakh Refinery and setting up a Greenfield refinery-cum-petrochemical complex in Andhra Pradesh with massive investment.
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“Post-bifurcation, we are awaiting clearance from the Ministry of Environment and Forests for expanding Visakh Refinery from 8.3 million tonne per annum to 15 million tonne. We are also scouting for suitable land and a partner for establishing a Greenfield project in the Petroleum, Chemical and Petrochemical Investment Region (PCPIR),” HPCL Director (HR) P.K. Joshi told The Hindu on Thursday.
A high-level team from HPCL led by its Chairperson-cum-Managing Director Nishi Vasudeva was here to review the progress in achieving normal production at Visakh Refinery post-Hudhud.
Mr. Joshi said the twin projects were high on the agenda of the Maharatna oil company. Expansion of Visakh Refinery by setting up new units and phasing out some of the old facilities are expected to involve an investment of Rs.15,000 crore.
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Though for the Greenfield project in petroleum corridor being developed between Visakhapatnam and Kakinada, 1500 acres at Atchutapuram was allotted by APIIC before division by AP Industrial Infrastructure Corporation, it was later cancelled for failure to ground the work within stipulated time. Sources said APIIC is considering HPCL’s request for allotment of larger extent of land somewhere near Nakkapalli or Atchutapuram. The new project will require an investment of over Rs.40,000 crore, the sources said.
As part of PCPIR, Petronet LNG Limited (PLL), a public sector floated by GAIL, Bharat Petroleum and ONGC, is setting up 10 million tonne LNG terminal at Gangavaram Port. Unconfirmed reports said HPCL was holding talks with PLL to pick up eight per cent stake in the project.
We are scouting for suitable land and a partner for establishing a Greenfield project in the PCPIR.
P.K. Joshi
HPCL Director
“Post-bifurcation, we are awaiting clearance from the Ministry of Environment and Forests for expanding Visakh Refinery from 8.3 million tonne per annum to 15 million tonne. We are also scouting for suitable land and a partner for establishing a Greenfield project in the Petroleum, Chemical and Petrochemical Investment Region (PCPIR),” HPCL Director (HR) P.K. Joshi told The Hindu on Thursday.
A high-level team from HPCL led by its Chairperson-cum-Managing Director Nishi Vasudeva was here to review the progress in achieving normal production at Visakh Refinery post-Hudhud.
Mr. Joshi said the twin projects were high on the agenda of the Maharatna oil company. Expansion of Visakh Refinery by setting up new units and phasing out some of the old facilities are expected to involve an investment of Rs.15,000 crore.
Though for the Greenfield project in petroleum corridor being developed between Visakhapatnam and Kakinada, 1500 acres at Atchutapuram was allotted by APIIC before division by AP Industrial Infrastructure Corporation, it was later cancelled for failure to ground the work within stipulated time. Sources said APIIC is considering HPCL’s request for allotment of larger extent of land somewhere near Nakkapalli or Atchutapuram. The new project will require an investment of over Rs.40,000 crore, the sources said.
As part of PCPIR, Petronet LNG Limited (PLL), a public sector floated by GAIL, Bharat Petroleum and ONGC, is setting up 10 million tonne LNG terminal at Gangavaram Port. Unconfirmed reports said HPCL was holding talks with PLL to pick up eight per cent stake in the project.
We are scouting for suitable land and a partner for establishing a Greenfield project in the PCPIR.