Indian firm Hindustan Petroleum (HPCL) is to set up an 18 million tonnes per year refinery in Maharashtra, India, with expected costs of $9.5bn.
The firm will construct the refinery in two phases of nine million tonnes each, and the first phase will require an investment of up to $4.75bn.
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HPCL director of refineries K Murali said that the firm is in talks with the government of the state of Maharashtra to acquire a 12.14km² piece of land for the refinery.
HPCL operates two refineries – one in Mumbai and the other in Visakhapatnam – which have a combined capacity of 14.8 million tonnes per year.
