Employee delivering LPG cylinders from HPCL. (Photographer: Dhiraj SIngh/Bloomberg)

HPCL Plans To Spend Rs 6,800 Crore This Fiscal To Boost Refinery Capacity

Hindustan Petroleum Corporation Ltd. has embarked on an aggressive capital expenditure plan over the next five years, to boost its Mumbai and Visakhapatnam refineries.

The government owned refiner will spend Rs 6,800 crore in the current financial year, and Rs 55,000 crore over the the next five years, MK Surana, Chairman and Managing Director told BloombergQuint in an interview. The the lion’s share of the capex would be for Mumbai and Visakhapatnam refinery expansion, Surana added.

Here’s more from the interview with MK Surana.