HPCL plans to invest 250 billion rupees in new refinery

State-owned Hindustan Petroleum Corp. Ltd. is planning to set up a 15 million ton per year greenfield refinery in the Konkan region of Maharashtra, India, with an investment of around Rs250 billion (US$5.4 billion), Chairman and Managing Director Arun Balakrishnan said. Balakrishnan said the company is already engaged in talks with the Maharashtra government to acquire 1,100 to 1,200 hectares in the Konkan region for the proposed refinery. (January 28, 2010)