Hindustan Petroleum to Build New Plant

Hindustan Petroleum (HP) will build a Rs250bn ($5.4bn) crude oil processing plant in Mumbai that will generate 20 million tonnes a year of oil, according to HP refineries director K Murali.

The plant, which is expected to be completed in five years, would more than double its present capacity and help meet the nation’s fuel demand, according to Bloomberg.

HP refineries director K Murali said that they have to build a new plant or they would be out of business.

“Fuel demand is growing and there’s a market here,” Murali told Bloomberg.

HP has a 6.5 million tonnes-a-year refinery in Mumbai and a 7.5 million tonnes-a-year plant in Andhra Pradesh, both of which will be upgraded to increase their combined capacity to 15.3 million tonnes.