State-owned refiner Hindustan Petroleum Corp ltd (HPCl) and gas utility GAIl India ltd are looking at jointly setting up a multi-billion dollar petrochemical plant in Andhra Pradesh. They are exploring the possibility of a petrochem project after their plans to team up with France's Total, lakshmi N Mittal Group and Oil India ltd (OIl) for a 15 million tons a year refinery-cum-petrochemical plant at Visakhapatnam in Andhra Pradesh fell through.
“That project fell as partners pulled out one after the other due to weak global demand,” an official said. “Now, HPCl and GAIl are looking at setting up a petrochemical plant at the Petroleum, Chemical, Petrochemicals Investment Region sites identified by the State Government.”