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Hindustan Petroleum Corporation (HPCL) plans to invest Rs 18,000-crore for building a 15mt export-oriented refinery at Visakhapatnam in Andhra Pradesh and another Rs 1,635 crore to increase capacity of its existing refinery there. The existing 7.5mt per annum Vizag refinery has space constraints and it cannot be expanded beyond a certain capacity. New plans have been drawn to build a new refinery some 30-35 km away from the existing refinery. The company has approached the Andhra Pradesh government to allot 2,500 acre of land in the proposed special economic zone at Vizag for the new refinery. HPCL will implement the project through a subsidiary and will seek foreign partners for building the refinery. |
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| Posted : 8/18/2005 |
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