HPCL-Mittal-Total consortium to invest Rs 32,000 crore in plant in PCPIR in Andhra Pradesh

20-May-08
A panel has cleared the first mega oil, chemical and petrochemical investment hub in Andhra Pradesh state expected to attract an investment of Rs 3,43,000 crore. The consortium of Mittal Energy Investments, Total SA of France and Hindustan Petroleum Corp (HPCL) will invest Rs 32,000 crore in the proposed PCPIR in the Vishakhapatnam-East Godavari region. The consortium will be the anchor in the investment region, and will set up a 15 mln tpa refining-cum-petrochemical complex. Besides this, HPCL is expected invest another Rs 10,000 crore to double its existing 7.5 mmtpa refining capacity in the region. Public sector refining major Oil & Natural Gas Corp (ONGC) would invest Rs 31,000 crore to set up a refinery and polypropylene unit in Kakinada SEZ.
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