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HPCL to raise 12,000 crore via NCDs, bonds
Posted on 13th August 2018
Mumbai: State-run Hindustan Petroleum Corp. Ltd (HPCL) has sought shareholder nod to borrow as much as 12,000 crore by selling debentures and bonds, according to its FY18 annual report. “Approval of the members of the company by way of special resolution is sought for private placement of unsecured/secured redeemable non-convertible bonds (NCDs)/debentures up to 12,000 crore (from domestic as well as overseas markets) in aggregate during the period of one year from the date of passing the special resolution by the members,” HPCL said in its annual report.

“To leverage the high demand potential and capitalize on the growth opportunities in the hydrocarbon sector, your company has planned large scale investments for enhancing the refining capacities and build marketing infrastructure,” said M.K. Surana, chairman and managing director of HPCL, in his address to shareholders. It also seeks to set up petroleum, oil and lubricants depots, liquefied petroleum gas plants; aviation service facilities and lube blending plants in this fiscal year.

HPCL is also exploring opportunities to grow its lubricants business across Asia, West Asia and Africa. “A detailed market entry strategy has been worked out and a concrete business plan is being developed for these countries,” said the report.

To execute its plans, HPCL has formed a unit, HPCL Middle East FZCO, at the Dubai Airport Free Zone Area in the United Arab Emirates and has also appointed a distributor in Myanmar to start sales. “Corporation has plans to significantly increase the lube sales volume in Myanmar,” it added.

Under the Visakh Refinery Modernization Project (VRMP), HPCL is expanding its refinery in Visakhapatnam to 15 million metric tonnes per annum (mmtpa) from 8.33 mmtpa. The move will enable the company to produce Bharat Stage-VI grade petrol and diesel. It is also expanding its Mumbai refinery to 9.5 mmtpa from 7.5 mmtpa.

Besides, it is expanding the Mundra-Delhi pipeline (MDPL), Visakh-Vijayawada-Secunderabad pipeline (VVSPL), Ramanmandi-Bahadurgarh pipeline (RBPL), the new extension pipeline from Palanpur to Vadodara with associated terminal facilities and new Vijayawada Dharmapuri pipeline.

Related Companies: Hindustan Petroleum Corporation Ltd.(HPCL)   

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UP cops arrest owners of bogus brokerage involved in Rs 4,122 cr DHFL scam
Posted on 7th December 2019

The economic offences wing (EOW) of Uttar Pradesh Police has arrested seven accused in the UP Power Corporation Limited (UPPCL) employees' provident fund (PF) scam, in which Rs 4,122 crore was illegally parked with private lender Dewan Housing Finance Corporation Limited (DHFL).

Those arrested included a senior DHFL official, a chartered accountant and the owners of bogus brokerage firms. With the new arrests yesterday, the number of those rounded up in the case has risen to 12.


NTPC inks Rs 5,000 crore term-loan pact with SBI for capex spending
Posted on 7th December 2019
Power generation company NTPC on Saturday said it has signed a term loan agreement for Rs 5,000 crore was signed with State Bank of India (SBI).

The loan facility has been extended at an interest rate linked to 3-month MCLR (marginal cost of funds-based lending rate) of the bank and has a door-to-door tenure of 15 years, NTPC said in a statement.


Priyanka Gandhi meets Unnao rape victim's family, attacks UP govt
Posted on 7th December 2019

Congress general secretary Priyanka Gandhi Vadra on Saturday blamed the BJP government in Uttar Pradesh for the death of the Unnao rape victim, following which she met the deceased's family members at their house and offered her condolences.

Hours after the death of the 23-year-old gang rape victim at a Delhi hospital, the Congress leader alleged that the "hollow law and order mechanism in UP" denied justice to survivors of sexual violations.


Goa minister urges Modi to mandate public hanging of rape-murder convicts
Posted on 7th December 2019

Goa minister Michael Lobo on Saturday demanded that public hanging of convicts in the rape-murder cases be made compulsory in the country for sending out a strong message in the society in order to curb crime against women.

He also urged Prime Minister Narendra Modi and Union Home Minister Amit Shah to bring amendments to the law to facilitate public hanging of such criminals.


Hyderabad cops file case against 4 rape accused after shooting them dead
Posted on 7th December 2019

A case was registered against four accused, arrested for the alleged rape and murder of a woman veterinarian near here last month and killed in an encounter, for 'attacking' the police personnel.

Case under IPC sections 307 (attempt to murder), 176 (omission to give notice or information to public servant by person legally bound to give it) and relevant sections of the Indian Arms Act were registered against the accused.


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