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HPCL-Mittal may double north India refinery output

04.30.2012  | 

HPCL Mittal Energy Ltd. may double capacity of its north India refinery, billionaire steel tycoon Lakshmi Niwas Mittal said Saturday. Mumbai-based Hindustan Petroleum Corp. and Singapore's Mittal Energy Investment each have a 49% stake in HPCL-Mittal Energy, which has a capacity of 180,000 bpd.

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By RAKESH SHARMA

Bathinda, INDIA -- HPCL Mittal Energy may double capacity of its north India refinery, billionaire steel tycoon Lakshmi Niwas Mittal said Saturday.

"We may double the capacity to 360,000 barrels a day," Mittal said at an event where Prime Minister Manmohan Singh formally inaugurated the refinery.

Mumbai-based Hindustan Petroleum Corp. and Singapore's Mittal Energy Investment each have a 49% stake in HPCL-Mittal Energy Ltd., which built the 180,000 bpd refinery at Bathinda in Punjab province, at a cost of $4 billion.

Financial institutions hold the remaining 2%.

Dow Jones Newswires



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