India’s HPCL invests Rs47 billion to expand Mumbai base oils capacity

MUMBAI (ICIS)–India’s state-owned Hindustan Petroleum Corp Ltd (HPCL) plans to invest rupees (Rs) 46.79 billion ($551 million) to expand the lube oil base stocks (LOBS) production at its Mumbai refinery by 289,000 tonnes/year or by about 61%.

“The company board has approved the ‘Lube Modernization and Bottoms Upgradation Project’ at the Mumbai Refinery,” it said in a statement to the Bombay Stock Exchange on 16 December.

This project will increase the company’s LOBS production to 764,000 tonnes/year from current 475,000 tonnes/year with production of superior grade Group II+ and Group III LOBS, it added.

HPCL expects to start producing the additional premium base oils via a new integrated hydrocracker and catalytic dewaxing unit by 2027-2028.

($1= Rs84.91)