Saturday, May 14, 2022

HPCL’s Visakh Refinery expansion project to be completed in FY23: Minister

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  • The existing capacity of HPCL’s Visakh Refinery is 8.3 MMTPA (Million Metric Tonne Per Annum) and after completion of expansion project, capacity will increase to 15 MMTPA
  • The approved cost of the Visakh Refinery Modernisation Project (VRMP) is Rs 26,264 crore

New Delhi: State-run Hindustan Petroleum Corporation Ltd’s (HPCL) Visakh Refinery expansion project is scheduled to be completed in the year 2022-23, said Minister of State for Petroleum and Natural Gas Rameswar Teli in the Rajya Sabha on Monday. The existing capacity of HPCL’s Visakh Refinery is 8.3 MMTPA (Million Metric Tonne Per Annum) and after completion of expansion project, capacity will increase to 15 MMTPA. The approved cost of the Visakh Refinery Modernisation Project (VRMP) is Rs 26,264 crore. 

HPCL’s Visakh Refinery expansion project

Commenting on the benefits of the expansion project, Teli said, “The project is expected to have multiple benefits and impact including supply of Bharat Stage-VI compliant motor fuels, enhancing energy security due to increased refining capacity, enhanced refinery complexity and conversion efficiency, generating direct and indirect employment during construction and post construction phases, positive impact on Indian industry including in Andhra Pradesh due to high local component in project cost, nurturing and encouraging local industry during project and post project phase.”

Biggest-ever refinery expansion undertaken by HPCL

In a series of tweets, Bharatiya Janata Party (BJP) Rajya Sabha MP GVL Narsimha Rao said, “This is the biggest industrial project ever in the history of even united Andhra Pradesh.” Another tweet said, “HPCL Visakha Modernization Project at cost of Rs.27,000 crore will enhance capacity of Visakha Refinery from 8.3 MMTPA to 15 MMTPA. This is the largest capacity expansion project ever undertaken by HPCL. Project is on schedule & will be completed in present year 22-23.”

“There will be a high local component in the project cost as it will nurture and encourage local industry during the project building and post-project phases. It will boost the state's economy in the form of additional taxes,” Rao added in an official statement.

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