 "HPCL revives plan to set up refinery in AP PCPIR zone")
Hindustan Petroleum Corporation Limited (HPCL) has revived its plan to set up Rs 10,000 crore for upgradation of Vishakh refinery from 7.5 to 15 MMTPA with the new Andhra Pradesh government assuring land allotment either at Nakapalli or in the Kakinada Special Economic Zone (SEZ), according to a Business Standard report.
This project is slated for Andhra Pradesh Petroleum Chemicals and Petrochemical Investment Region (PCPIR), which has got delayed since the proposed Visakh area got classified as a critically polluted zone by Central Pollution Control Board (CPCB) where there is a general embargo on further capacity expansion for industries in the Visakh bowl area.
HPCL proposes to set up new 15 MMTPA refineries cum petrochemical complex at a cost of Rs 32,000 crore.
Meanwhile, logistics problem has forced Indian Oil Corporation Ltd to delay the commissioning of its proposed grassroot refinery at Paradip PCPIR in Odisha, says a Business Standard report. The refinery, which was supposed to be commissioned by the end of 2014, is now likely to be commissioned in 2015.
For the Paradip refinery, the proposed project would cost around Rs 30,000 crore in the first phase. A petrochemical complex will be set up at a later date depending on the market conditions, said official sources. IOCL has already invested Rs 22,000 crore. The total investment of the project is around Rs 2,80,000 crore is expected out of which committed investment is of the tune of Rs 29,777 crore.
FOR COMPLETE REPORT READ: IOCL delays commissioning at plant at Paradip
This project is slated for Andhra Pradesh Petroleum Chemicals and Petrochemical Investment Region (PCPIR), which has got delayed since the proposed Visakh area got classified as a critically polluted zone by Central Pollution Control Board (CPCB) where there is a general embargo on further capacity expansion for industries in the Visakh bowl area.
HPCL proposes to set up new 15 MMTPA refineries cum petrochemical complex at a cost of Rs 32,000 crore.
Meanwhile, logistics problem has forced Indian Oil Corporation Ltd to delay the commissioning of its proposed grassroot refinery at Paradip PCPIR in Odisha, says a Business Standard report. The refinery, which was supposed to be commissioned by the end of 2014, is now likely to be commissioned in 2015.
For the Paradip refinery, the proposed project would cost around Rs 30,000 crore in the first phase. A petrochemical complex will be set up at a later date depending on the market conditions, said official sources. IOCL has already invested Rs 22,000 crore. The total investment of the project is around Rs 2,80,000 crore is expected out of which committed investment is of the tune of Rs 29,777 crore.
FOR COMPLETE REPORT READ: IOCL delays commissioning at plant at Paradip