HPCL approves Rs 4,679-crore modernisation project in Mumbai refinery
The project aims to increase the production of lube oil base stocks (LOBS) from the current 475 kilotonnes per annum (KTPA) to 764 KTPA.
HPCL approves Rs 4,679-crore modernisation project in Mumbai refinery
State-owned Hindustan Petroleum Corporation Limited announced on Monday, December 16, that its board of directors has approved a modernization project at its Mumbai refinery. The lube modernization and bottoms upgradation project will increase the production capacity and quality of the refinery's output at a total investment of Rs 4,679 crore.
The project aims to increase the production of lube oil base stocks (LOBS) from the current 475 kilotonnes per annum (KTPA) to 764 KTPA. The upgraded facility will produce superior-grade Group II+ and Group III LOBS, HPCL said.
Additionally, the project will boost bitumen production by approximately 487 KTPA, utilizing fuel oil for this upgrade. The timeline for mechanical completion is 36 months, with an additional three months for commissioning after the board’s approval.
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Earlier, GP Petroleums Ltd announced that it has entered into a supply agreement worth approximately Rs 223 crore with HPCL for the provision of bulk bitumen - VG30. Shares of Hindustan Petroleum ended over 1% down on Monday, December 16.
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