HMEL (HPCL-Mittal Energy Ltd)
HMEL (HPCL-Mittal Energy Ltd)
Task cut out for Lakshmi Mittal's son Aditya to expand business empire in India
January 14, 2020
After taking over Essar Steel in India, Aditya Mittal, son of steel baron LN Mittal, has rolled out a plan for expansion of the metal making business in India, besides the family's investments in petrochemicals business. The young Mittal, who was recently appointed the chairman of ArcelorMittal Nippon Steel India (formerly Essar Steel), plans to double the steel production from the Hazira plant to 15 million tonne (MT). He is also in the process of setting up a dual feed petrochemical annual capacity of 1.2 MT, through the joint venture company -- HPCL Mittal Energy (HMEL). HMEL owns 11 MT Guru Gobind Singh Refinery at Bathinda. It was built at a cost of $4 billion in 2012..
Bathinda refinery’s Rs 24,000-cr petrochemical plant on track
December 20, 2019
Coming up at an investment of Rs 24,000 crore, the work on the petrochemical project of the HMEL’s Guru Gobind Singh Refinery is well on track and is set to meet its April 2021 deadline. The project will present Punjab an opportunity to emerge as the second biggest petrochemical hub in the country.
India's HMEL to start new polyethylene, polypropylene plants in 2021
February 12, 2019
India's HPCL-Mittal Energy Limited, or HMEL, will start a new 450,000 mt/year high density polyethylene plant and a new 500,000 mt/year polypropylene plant in Bhatinda in 2021 in line with a new 1.2 million mt/year steam cracker project, a company source said Tuesday.
Hindustan Petroleum Corp enters into a long-term agreement with HMEL
September 22, 2018
Hindustan Petroleum Corporation (HPCL) on Friday entered into a long-term agreement with HMEL (HPCL-Mittal Energy) for operations and maintenance of its newly-commissioned bitumen terminal at Bathinda.
L&T wins deal to make 7 furnaces for HPCL-Mittal Bathinda refinery
July 17, 2018
Larsen & Toubro, India’s largest construction firm, said it has won what it called a “significant” order from HPCL- Mittal Energy to construct seven cracker furnaces at the Bathinda Refinery in Punjab.
Fitch affirms HMEL's default rating, sees no support from GOI, ONGC
July 06, 2018
Fitch Ratings on Friday affirmed HPCL-Mittal Energy's (HMEL)'s long-term Issuer Default Rating (IDR) at 'BB', stating it expects neither HMEL's parent, Oil and Natural Gas Corporation (ONGC) nor the Indian government to ultimately support HMEL.
Punjab cabinet nod to interest-free loan for Bathinda refinery
May 09, 2018
The Punjab cabinet on Tuesday gave in-principle nod for interest-free loan to the Guru Gobind Singh refinery at Bathinda in a meeting chaired by Punjab chief minister Captain Amarinder Singh.
Indian oil refiners turn to use dirty fuel petcoke to produce power, gas
December 06, 2017
Indian oil refiners are drawing up plans to use petroleum coke for power generation and to produce syngas after the government banned use of the heavily polluting fuel in and around New Delhi.