Hindustan petroleum Corporation Ltd.

HPCL forays into petrochemical business, launches HP Durapol

December 22, 2022

Maharatna oil company Hindustan Petroleum Corporation on 22 December announced that it has forayed into the petrochemical business through polymer marketing with the launch of polymer brand -- HP Durapol. HPCL's Secretary for Petroleum and Natural Gas, Pankaj Jain, launched the HPCL's first polymer brand in the presence of HPCL Chairman and Managing Director Push Kumar Joshi. They also inaugurated the brand, logo, product brochure and package for the polymer products. HP Durapol would cover various grades of high-density polyethylene, linear low-density polyethylene and poly propylene, said statement from the ministry of petroleum and natural gas. It added that this pre-marketing would be the pre-cursor to marketing of HPCL Rajasthan Refinery (HRRL) products. According to the statement, HRRL is a 9 million metric tonnes per annum (mmtpa) and 2.4 mmtpa petrochemicals integrated complex. Earlier on 15 December, HPCL approved raising up to ₹10,000 Cr via NCDs on a private placement basis. HPCL stated that it has issued unsecured, redeemable, non-convertible, non-cumulative, taxable debentures of up to ₹10,000 Crores on a private placement basis in the domestic market and/or in the international market from the date of such approval for funding of refinancing of existing borrowings and/or funding of capital expenditure of the issuer, including recoupment of expenditure.