Hindustan Petroleum Corporation Ltd (HPCL) is set to make substantial investments in establishing petrochemical manufacturing facilities to cater to India’s burgeoning demand, in alignment with the expanding economy and a heightened focus on infrastructure development. The enterprise is dedicated to enhancing its crude oil refining and petrochemical production while maintaining its commitment to achieving net zero carbon emissions by 2040.
HPCL’s Chairperson Pushp Kumar Joshi highlighted the company’s active pursuit of significant investments to develop petrochemical manufacturing capacities through joint ventures, without revealing the specific investment figures or the volume of manufacturing facilities.
HPCL aims to strengthen its petrochemical portfolio via both greenfield and brownfield projects in collaboration with the public and private sectors. Currently, HPCL is constructing India’s inaugural integrated grass-root refinery-cum-petrochemical complex at Pachpadra (Balotra) in Rajasthan.
The project, a joint venture between HPCL and the Rajasthan government, operates under the name HPCL Rajasthan Refinery Limited (HRRL). The refinery-cum-petrochemical complex boasts the highest petrochemical intensity index (PII) in India at twenty-six percent and is nearing completion.
As reported by polymerupdate.com, to further bolster its petrochemical portfolio, HPCL has established a dedicated Strategic Business Unit (SBU) for petrochemicals.
Looking ahead, HPCL plans to launch two separate projects for the production of linear low density polyethylene (LLDPE) and high density polyethylene (HDPE), each with an annual capacity of 5,50,000 tons, in 2024. Additionally, HPCL is set to commence a one million tons polypropylene (PP) project in the same year.
