Hindustan Petroleum Corporation Limited — Important, 16-12-2024: General Updates

The Board has approved the "Lube Modernization and Bottoms Upgradation Project" at Mumbai Refinery, which aims to enhance Lube Oil Base Stocks (LOBS) production from 475 KTPA to 764 KTPA and increase Bitumen production by approximately 487 KTPA through the upgradation of Fuel Oil. The project’s estimated cost is ₹4,679 Cr, with a mechanical completion timeline of 36 months and an additional 3 months for commissioning. This strategic initiative reflects positive growth prospects for Hindustan Petroleum, positioning it to cater to higher-quality product demands while enhancing operational efficiency. Investors should monitor developments as this could significantly impact the company’s future performance.