State-owned Hindustan Petroleum Corporation Ltd (HPCL) plans to spend Rs 75,000 crore in expansion and diversification in the next five years with an annual expenditure of around Rs 14,000-15,000 crore, the company said on Tuesday.
“Around 25-30% of the capex will be for the renewable or gas-based segment, refinery would take another 20% and balance would be for other downstream marketing projects,” said Rajneesh Narang, company’s Director of Finance.
