HPCL consortium to review feasibility of Vizag refinery

India’s Hindustan Petroleum Corporation Ltd (HPCL), in association with Total SA of France, Mittal Energy Investments, Oil India and Gail, will decide on the viability of the Rs50,000 crore (US$10 billion) integrated refinery project at Vishakhapatnam in April and May 2009. The project encompasses a 14 to15 million tons-per-year refinery together with a petrochemical unit. Owing to the global financial recession and reduced demand of petroleum products, the feasibility of the project will be once again reviewed in April to May 2009; the project’s techno-economic evaluation and supply-demand balance will be conducted by HPCL and its partners around the same time. (December 24, 2008)