Hindustan Petroleum Corporation (HPCL) will raise the capacity of its Mumbai and Vizag refineries by 3.3 million tonne, and is planning to invest Rs 1,200 crore for expanding its retail network during the next fiscal."We plan to raise Mumbai capacity to 7.9 million tonne per annum (MTPA) from 5.5 MTPA, and the Vizag capacity from 7.5 MTPA to8.4 MTPA," HPCL chairman and managing director Mahesh B Lalsaid today.Lal said the expansions, which were part of the programme to produce cleaner fuel, were to be implemented this fiscal but were now being pushed to 2006-07.HPCL was also likely to finalise an agreement with BP on equity participation for its Rs 12,000 crore Bhatinda refinery project by April-May. "HPCL and BP will have equal stake in the Bhatinda refinery. We are discussing the shareholding pattern, and hope to reach an agreement soon," he said.Lal said HPCL would also invest Rs 1,200 crore in 2006-07 to expanding its retail network and pipeline projects. "We currently have 7,000 retail outlets, and plan to add 850 more in 2006-07. This is the same number we added during the current fiscal," he said.
