BMI View: HPCL's plan to build a 360,000b/d refnery in Maharashtra is part of a capacity-building strategy as the state-run refner tries to keep up with its rapidly expanding retail operation. State-run Hindustan Petroleum Corporation Ltd (HPCL) is considering a US$6.7bn plan to build a 360,000b/d refnery in Maharashtra in western India. The plan is part of HPCL's push to add more than 500,000b/d of refning capacity to its current base of 280,000b/d by 2017. HPCL's retail expansion has outpaced its refning capacity, forcing the company to buy products from other refners.
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