Financial Daily from THE HINDU group of publications
Tuesday, Aug 02, 2005
Financial Daily from THE HINDU group of publications Tuesday, Aug 02, 2005 |
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Corporate
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Announcements HPCL reviewing plan to expand Vizag refinery capacity Pratim Ranjan Bose
Kolkata , Aug 1 HPCL is reviewing its decision to expand the capacity of Vizag refineries to 15 million tonne. Sources said that the company is now considering turning the project into an integrated refining-cum-petrochemicals complex. They also said that the two main options being considered are - producing more petrochemical feedstock using cheaper crude and backing up the refinery with a petrochemicals project to produce a range of final products. The final decision will be governed by the availability of funds. HPCL had initially proposed a Rs 1,650-crore de-bottlenecking project to ramp up capacity from 7.5 million tonnes to 8.9 million tonnes and capacity expansion of up to 15 million tonnes. Initially, there was some discussion with Saudi Aramco to take part in the expansion project but that participation is now uncertain. The detailed feasibility report of the expansion project was due in the first quarter of the current year but has now been pushed back by around two months. The de-bottlenecking project, due to be commissioned by August 2006, is being subjected to further scrutiny.
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