HPCL plans to set up Rs 30,000-crore refinery on west coast

NEW DELHI: STATE-run Hindustan Petroleum Corporation (HPCL) plans to invest Rs 30,000 crore to set up a 15-16 million tonne-a-year refinery on the west coast. The new refinery, which may be in Raigad district of Maharashtra, is being mulled to make up for space constraint that its Mumbai refinery faces at present. (Watch)

“We have been shown three pieces of land by Maharashtra government... We should be able to finalise the location in next few weeks,” HPCL chairman and managing director Arun Balakrishnan said.

HPCL has got cost estimates for the 15-16 million tonne refinery, which is Rs 30,000 crore, and is currently extrapolating that for a 20 million tonne-a-year unit.