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Sector
Energy
Size
Large Cap
Market Cap £4.51bn
Enterprise Value £7.98bn
Revenue £33.00bn
Position in Universe 112th / 3156

India's HMEL to start Bathinda cracker by March 2022

Tue 5th October, 2021 7:40am
By Mohi Narayan and Nidhi Verma
    NEW DELHI, Oct 5 (Reuters) - India's HPCL-Mittal Energy Ltd
(HMEL), part-owned by steel tycoon L N Mittal, plans to start
its naphtha cracker at Bathinda refinery in northern Punjab
state by the end of the March quarter of 2022, sources told
Reuters on Tuesday.
    The cracker at the 230,000 barrels-per-day (bpd) refinery
will have an annual capacity of 1.2 million tonnes.
    "We are trying our level best to get the cracker online by
March 2022," an industry source familiar with the matter said.
    State-run refiner Hindustan Petroleum Corp  HPCL.NS  and
Mittal Energy Investments Pvt Ltd own 49% stake each in the
project.
    Separately, another source said the cracker could start in
April. HMEL did not respond to Reuters request for comment.

 (Reporting by Mohi Narayan and Nidhi Verma; Editing by
Subhranshu Sahu)
 ((Mohi.Narayan@thomsonreuters.com;))
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