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Hyderabad, March 29
The modernisation project of Visakhapatnam Oil Refinery of Hindustan Petroleum Company Ltd (HPCL) will be completed in 2022-23, according to Ministry for Petroleum & Natural Gas. In a written reply to a query in the Rajya Sabha, the Ministry has informed that 85 per cent of the works of the modernisation project have been completed.
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This equates to around 20 per cent of the combined FY2021 EBITDA for the three entitiesThe total cost of the project, which was approved in 2016, has also been revised from ₹20,928 crore to ₹26,264 crore. Though the original target to complete the project was 2020, 85 per cent of the works were completed by February 2022 and the remaining works will be completed in 2022-23, the Ministry said.
Modernisation
The modernisation of the project, located near Yarada hills in Malkapuram, Visakhapatnam, will increase the existing capacity of the refinery from present 8.3 mmtpa (million tonnes per annum) to 15 mmtpa. The refinery was originally commissioned in 1956 with a capacity of 0.675 mtpa. It came under HPCL’s ownership in 1978.
Setting up of a new crude unit, revamp of motor spirit and diesel hydro-treating block, integrated effluent treatment system, offsite facilities and a captive power plant, among others, are being taken up as part of the modernisation project.
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