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.
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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.
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By GlobalData
