Board of Hindustan Petroleum approves investment of Rs 2,212 cr in Visakh Raipur Pipeline Project | Capital Market News
At meeting held on 11 September 2024
The Board of Hindustan Petroleum Corporation at its meeting held on 11 September 2024 has approved the following –
1. Approval of Visakh Raipur Pipeline Project Investment
Approval for construction of Pipeline from Visakh to Raipur and allied facilities including Depot at Kantabanji at an estimated cost of Rs.2212 Crore. This project is expected to provide strategic advantage for evacuation of products for the expanded capacity of Visakh Refinery
after implementation of Visakh Refinery Modernisation Project in optimizing placement costs and enable product movements to eastern, central and northern parts of the country.
2. Visakh Refinery Modernization Project (VRMP) revision in Cost and completion schedule
Revision in the cost of VRMP to Rs. 30,609 crore with a mechanical completion by October 2024. The major units of VRMP are already commissioned and the Resid Upgradation facility will be commissioned shortly. With the completion of the VRMP Project, Visakh Refinery will operate to its full capacity of 15 MMTPA including bottom upgradation facilities.
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First Published: Sep 11 2024 | 8:03 PM IST
