Ministry Approves Revision of HPCL Rajasthan Refinery Project Cost
Hindustan Petroleum Corporation Ltd (HPCL) has received approval from the Ministry of Petroleum & Natural Gas for the revision of the cost and investment details for the Hindustan Petroleum Corporation Ltd (HPCL) Rajasthan Refinery Limited (HRRL) Project.The Ministry of Petroleum & Natural Gas advised the revision of the project cost from Rs. 43,129 Crore to Rs. 79,459 Crore. This revision is accompanied by an increased HPCL equity investment of Rs. 19,600 Crore, which is necessary to maintain HPCL's equity stake of 74% in the venture.
The revised financial details for the HRRL Project are as follows:
| Metric | Original Value | Revised Value |
|---|---|---|
| Project Cost | Rs. 43,129 Crore | Rs. 79,459 Crore |
| HPCL Equity Investment | N/A | Rs. 19,600 Crore |
| Maintained Stake | N/A | 74% |
HRRL is characterized as a greenfield integrated refinery cum petrochemical complex. The project boasts a high Nelson Complexity Index of 17 and a petrochemical intensity of 26%.
In terms of operational progress, the project is reportedly in the advanced stage of commissioning. Furthermore, the trial run of the CDU / Other Units is currently underway.
HINDPETRO Stock Price Movement
Today, Hindustan Petroleum Corporation Limited shares edged higher, settling at ₹370.85, marking a gain of 0.55% for the session. The stock saw substantial investor interest, recording a total traded volume of 6.28 million shares today.Source:
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