The investment will be in its new refinery in Punjab, upgradation of existing refineries for green fuels and clean fuels, expansion of its retail business and other infrastructure.
To counter the entry of new private players in oil retailing, HPCL will invest over Rs 2,100 crore in the oil marketing business, and another Rs 1,105 crore in retail automation.
The company will also push branded fuels for better margins, and will extend availability to 500 retail outlets.
It did not specify its exact strategy on expanding the number of retail outlets though, which currently stands at 4,800, less than Indian Oil Corporation
