Hindustan Petroleum Corporation Limited’s (HPCL) board approved the Visakhapatnam Refinery Modernisation Project at an investment of Rs 209.28 billion. HPCL is planning to expand the capacity of its Visakhapatnam refinery from 8.33 million tonnes per annum (mtpa) to 15 mtpa, along with the associated facilities for residue upgradation and product quality upgradation, incorporating advanced refining technologies for modernisation. It is likely to complete the project within 48 months.