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State-run Hindustan Petroleum Corporation Ltd (HPCL) is developing three new labs at its R&D Centre in Bengaluru for research on petrochemicals, biofuels, batteries, hydrogen and solar energy, its Chairman and Managing Director M K Surana said on Wednesday.
Expansion of business portfolio with greater presence in the clean energy verticals of natural gas remains a focus area of the company, Surana told shareholders at the annual general meeting.
HPCL along with its joint ventures has the authorisation for city gas distribution in 20 geographical areas covering nine states.
To promote the usage of cleaner fuels and for giving wider choices to customers, CNG facilities were provided at 166 retail outlets taking the total number of CNG retail outlets to 471.
Surana reiterated previously announced plans that HPCL will invest over Rs 60,000 crore in the next five years for building infrastructure to support growth and expansion.
This includes refinery expansion and augmentation projects to increase capacity of Mumbai Refinery to 9.5 MMTPA and Visakh Refinery to 15 MMTPA along with residue upgradation facilities.
The project for setting up of 9 MMTPA capacity greenfield refinery-cum petrochemical complex at Barmer in Rajasthan has made significant progress with the award of EPC contracts for five of the major process units out of total 13 process units.
HPCL is also looking to increase its presence in bio-fuels segment by building production facilities for second-generation (2G) ethanol and compressed bio-gas.
The Visakh refinery has commenced production of VLSFO (Very Low Sulphur Fuel Oil with Sulphur content less than 0.5 %) to meet the global regulatory requirement for ocean going vessels.
Door-to-Door delivery of diesel has been expanded to 18 cities/towns.
HPCL continue to expand its footprint in overseas markets and plans to widen its presence to 20 countries.
Pipeline network length and capacities are being augmented with three cross-country pipelines entailing an investment of about Rs 5,600 crore, Surana added.
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