HPCL to add new facilities at Vizag Refinery; stock down

HindustanPetroleum Corporation Ltd (HPCL) will add new facilities at its Vizag refineryto convert low-value heavy oils into premium products, which will significantlyincrease refining margins, the company's director for refineries, K Murali said.

This will be part of its 8,000-crore project to expand therefinery's capacity to 15 million tonnes a year from the current 8.3 milliontonnes, he said. The project also involves installing a new 180,000 barrels perday, or 9 million tonnes a year, crude distillation unit in place of the an old36,000 bpd unit.

At 10:40 am, the stocks was trading at Rs 328.65,down 2 per cent. The stock touched a high of Rs 332.70 and a low of Rs308.05.

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HPCL to add new facilities at Vizag Refinery