HPCL invested Rs.3,771 crore in Q2FY25 to boost refining, signed multiple agreements
Hindustan Petroleum Corporation Limited (HPCL) invested ₹3,771 crore in Q2 FY25 to enhance its refining and marketing infrastructure, contributing to a total of ₹6,588 crore in investments for the April-September 2024 period. Notably, HPCL’s Visakh Refinery will feature India’s first Green Hydrogen plant, capable of producing 370 tonnes annually. Additionally, HPCL signed MoUs to develop a Green Fuel Ecosystem at Mumbai Port and collaborate on Green Hydrogen and renewable energy projects with MAHAGENCO.
State-owned Hindustan Petroleum Corporation Limited invested Rs. 3,771 crore to enhance its refining and marketing infrastructure in Q2FY25, the company said in an exchange filing on Friday. This investment contributed to HPCL’s total investments worth Rs. 6,588 crore made in the April-September quarter of fiscal year 2025.
“HPCL invested Rs. 3,771 crore during 2QFY25 to further strengthen its refining and marketing infrastructure, including investment in joint venture and subsidiary companies. This takes the total investment during Apr-Sep 2024 to Rs. 6,588 Crore,” as per the statement said.
Hindustan Petroleum’s Visakh Refinery commissions to be the first Green Hydrogen Plant in an Indian refinery. This facility can produce 370 tonnes per annum of Green Hydrogen using energy sources. During the April-September quarter, the refinery started sourcing 3 megawatts of green power through the local distribution company.
HPCL also signed a Memorandum of Understanding (MoU) with the Mumbai Port Authorities and the Mumbai Port Sustainability Foundation. This agreement is intended to develop a Green Fuel Ecosystem at the Mumbai port. HPCL Renewable & Green Energy Ltd., a subsidiary of HPCL, has also entered into an MoU with MAHAGENCO Renewable Energy Limited (MREL) for collaboration in the areas of Green Hydrogen and Renewable Energy.
Source Link : https://www.psuconnect.in/news/hpcl-invested-rs-3771-crore-in-q2fy25-to-boost-refining-signed-multiple-agreements/44908
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