HPCL plans to invest ₹74,000 cr.

HPCL plans to invest ₹74,000 cr.

State-owned Hindustan Petroleum Corporation Limited (HPCL) is planning to invest as much as ₹74,000 crore in expanding its refining and petrochemical capacities. HPCL CMD Mukesh Kumar Surana, said, “A capital expenditure of about ₹74,000 crore is envisaged over the next five years for various projects.”

Of the ₹74,000 crore, HPCL plans to invest ₹35,200 crore in refining, ₹21,800 in marketing, ₹5,700 crore in renewables and R&D and ₹11,500 crore across joint ventures. “The company plans to invest ₹42,000 crore from internal resources and ₹32,000 crore by way of debt. At peak debt also, our debt to equity ratio will be less than 2:1,” said Mr. Surana.

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