Mittal Energy Investments is planning to join hands with France-based oil company Total SA, and Hindustan Petroleum to set up a refinery-cum-petrochemical project in India, Thomson Financial cites the Financial Express as reporting.
The project is expected to cost over INR300 billion, and will be located near Visakhapatnam in the southern Indian state of Andhra Pradesh. Hindustan Petroleum (HPCL) is planning to acquire 1,500 acres of land from Andhra Pradesh Industrial Infrastructure Corporation for this project.
According to Thomson Financial, a senior Hindustan Petroleum official said that a joint venture is the most appropriate route for the project.