October 1, 2008

HPCL-Led Consortium to Decide Vizag Refinery Funding By November’s End, an Industrial Info News Alert

Researched by Industrial Info Resources (Sugar Land, Texas) -- A five-company consortium consisting of Hindustan Petroleum Corporation Limited (HPCL) (BSE:500104) (Mumbai), steel magnate Lakshmi N. Mittal's group, GAIL (India) Limited (BSE:532155) (New Delhi), Oil India Limited (Duliajan, Assam), and Total S.A. (NYSE:TOT) (Paris) signed an agreement in October 2007 to build a refinery-plus-petrochemical plant in Vizag, Andhra Pradesh. The plant, estimated to cost about $6 billion, will have a capacity of about 300,000 barrels per day.

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SOURCE: Industrial Info Resources