HPCL to invest Rs 75,000 crore in capex over next 5 years

Hindustan Petroleum Corporation Ltd is firm on its proposed capital spending of Rs 75,000 crore over the next five years to broad-base its infrastructural facility and refining activities. A senior HPCL executive confirmed the investment as indicative of the company's commitment to expanding its infrastructure and refining capabilities.

HPCL is also working for the advantage and added protection of business from the danger of global geopolitical tensions, whereby getting a further tactical edge by sourcing on a delivered basis, hence limiting some associated risks. This is expected to adequately minimize the disruptions likely to be experienced by the company from changes and challenges in the global supply chain.

In other developments, HPCL has managed to stabilise its exports of lubricants to Bangladesh after facing teething troubles on account of the political crisis in that region. This will mark a positive response in the company's international activity.

It said the company was on target to mechanically complete its 9 million tonnes per annum (MTPA) refinery in Rajasthan by March 2025. The refinery is a key project for HPCL and will need considerable time to stabilise operations before the company even contemplates any induction of strategic partners.

HPCL shares were 0.2% higher at Rs 407.20 by 2:24 pm.