Aramco for Vizag?

Saudi Aramco is now being talked about as a prospective investor in the Hindustan Petroleum Corp (HPCL) led refinery and petrochemical complex at Visakhapatnam in Andhra Pradesh.

Talks are on to bring in Aramco, says HPCL’s chairman in this report in today’s Financial Express. Aramco’s presence would help as it would ensure crude oil supplies to the project.

It is also possible that one of the other partners in the project may exit because of the current economic crisis, the report adds. The project has been mooted as a joint venture between HPCL, Gail, Total and Mittal Investment.

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