Visakhapatnam Refinery Modernisation Cost Increases to over Rs 26,000 Crores

 - Sakshi Post

New Delhi: The cost of modernizing the Visakhapatnam refinery under Hindustan Petroleum Corporation Limited (HPCL) has been revised from Rs 20,928 crore to Rs 26,264 crore, Union Minister of Sate for Petroleum and Natural Gas Rameshwar Teli told the Rajya Sabha on Monday. In a written reply to a question by YSRCP member V. Vijayasai Reddy, the Minister said that in July 2016, HPCL had approved the Visakhapatnam Refinery Modernization Project at a cost of Rs 20,928 crore. 

The objective of the Visakha Refinery Modernisation Project (VRMP) is to increase the capacity of Visakha Refinery to 15 MMTPA and the modernisation work is in the advanced stage of construction and is expected to be completed soon. 

The execution of residue Upgradation facilities (RUF) project as part of VRMP is also progressing well and in February 2022, 85 percent of the project work has been completed. According to the revised target, the project will be completed in the 2022-23 financial year.

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