“Of the total investment of Rs 19,000 crore, we have already invested close to Rs 5,300 crore in the project. The work on the pipeline from Mundra port to Bathinda refinery for crude supply is mid-way and is likely to be complete by November 2010. The 1,000 km long pipeline is being built in six stretches and it will cost around Rs 4,000 crore. The capacity of the pipeline will be 9 million tonnes,” said Arun Balakrishnan, chairman HPCL-Mittal Energy.
A product pipeline of around 300 kilometers length will also be constructed from Bathinda to Bahadurgarh in Haryana for distribution of products like kerosene, petrol, diesel etc. This will cost the company around INR6 billion and will hold a capacity of 5 million tonnes. At least 30% of the products will be distributed via railway loadings and the rest through the pipeline. Overall 93% of ordering and tendering has been concluded of the refinery.
HPCL-Mittal Energy is owned by Hindustan Petroleum Corporation Limited (HPCL) and Mittal Energy Investment Pte Ltd. Both the companies hold 49% stake each in the firm, while the remaining is owned by financial institutions.
