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State-run oil refiner Hindustan Petroleum Corporation Ltd (HPCL) has signed a long-term agreement with HPCL-Mittal Energy Ltd (HMEL) to operate and maintain its newly-commissioned bitumen terminal.
HMEL — a joint venture between HPCL and Mittal Energy Investments Pte Ltd — runs a 9 million tonne per annum (mtpa) capacity refinery at Bathinda in Punjab.
HMEL recently set up a Bitumen Blowing Unit (BBU) of capacity 62.5 TPH or 550 TMTPA of different grades of Bitumen at its Guru Gobind Singh Refinery, Bathinda. For storing, handling and dispatching the product, HMEL has set up a marketing terminal to be handled by HPCL, a company statement said.
HPCL separately has a long-term product off-take agreement with HMEL for its entire production. “Both agreements put together would give HPCL 550 TMT of Bitumen in the northern region,” the company said.
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