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Hindustan Petroleum Corporation Limited ( (IN:HINDPETRO) ) has shared an announcement.
Hindustan Petroleum Corporation Limited announced that India’s Ministry of Petroleum & Natural Gas has approved a substantial revision in the capital cost of the HPCL Rajasthan Refinery Limited project, raising the estimate from Rs 43,129 crore to Rs 79,459 crore. To retain its 74% equity stake in the venture, HPCL will increase its equity investment to Rs 19,600 crore.
The HPCL Rajasthan Refinery Limited project is a greenfield integrated refinery and petrochemical complex featuring a high Nelson Complexity Index of 17 and petrochemical intensity of 26%, indicating a focus on higher-value products. The project is in an advanced stage of commissioning, with trial runs of the crude distillation unit and other units underway, underscoring its strategic importance in expanding HPCL’s refining and petrochemical capacity.
More about Hindustan Petroleum Corporation Limited
Hindustan Petroleum Corporation Limited is an Indian state-run oil and gas company engaged in refining, marketing, and distribution of petroleum products. Through its subsidiaries and joint ventures, HPCL is expanding into integrated refinery and petrochemical complexes to strengthen its position in the downstream energy and petrochemicals markets.
Average Trading Volume: 347,847
Technical Sentiment Signal: Hold
Current Market Cap: 780.2B INR
Find detailed analytics on HINDPETRO stock on TipRanks’ Stock Analysis page.