HPCL Exec:Vizag Refinery Expansion Advanced By 2 Yrs

The state-run refiner is likely to invest about INR110 billion ($2.3 billion) in the capacity expansion project, the executive, who didn’t wish to be named, told Dow Jones Newswires recently. “We plan to add 6 million tons per annum of capacity to existing installed capacity and hope to raise the throughput from Vizag (Vishakapatnam) refinery to at least 15 MTPA (300,000 barrels a day) in the next four years,” the executive, said. HPCL Chairman and Managing director Arun Balakrishnan said recently the company is considering an increase in the capacity of its Vizag refinery. “There were some delays in HPCL bringing the (Vizag) project back on track but now we should be able to finally work out our strategy,” said a second executive who didn’t wish to be named. HPCL plans to add another 6 million tons per year, or 120,000 barrels a day, to Vizag’s existing capacity of 150,000 barrels a day. “There would always be demand for oil products and India would need additional refining capacity,” the first unnamed executive said, when asked about rationale for adding capacity at the Vizag refinery. (June 26, 2009)