TITLE

Vizag petrochem project on hold: viability to be reevaluated after 6 months

PUB. DATE
October 2009
SOURCE
Popular Plastics & Packaging;Oct2009, Vol. 54 Issue 10, p67
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the decision of Hindustan Petroleum Corp. Ltd. to delay the construction of a refinery and petrochemical complex in Vishakhapatnam, India. Weak market conditions caused by the global economic slowdown is the stated reason for the postponement of the construction. The planned Vizag project of building a refinery and petrochemical complex is a joint project of HPCL, France's Total, Mittal Investments, GAIL (India) Ltd. and Oil India Ltd. signed in 2007. The project was initially valued at 8.3 to 9.4 billion U.S. dollars.
ACCESSION #
45309185

 

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