Hindustan Petroleum Corp. has invited bids to conduct a feasibility study for a refinery and petrochemical project at Visakhapatnam in southern India. The last date to submit tenders for the contract is Nov. 15. The state run oil major is reviving the Visakhapatnam project which was stalled earlier as its partners had pulled out due to the global economic slowdown in 2008-09.
The Visakhapatnam project was initially planned as a joint venture by Hindustan Petroleum, Mittal Energy Investments, France's Total SA, GAIL (India) Ltd. and Oil India Ltd. It was projected to have an export-oriented refinery with a capacity of 280,000-300,000 bpd and a petrochemical plant of at least 1 mln tons of annual capacity.
GAIL and Oil India are still interested in the project and is also in talks to Mittal Energy and Total.