Hindustan Petroleum signs MoU for a complex in AP

Hindustan Petroleum Corporation Ltd, leading oil company, has recently informed in a filing to the Bombay Stock Exchange that the Memorandum of Understanding (MOU) has been signed between Hindustan Petroleum Corporation Limited, GAIL (India) Limited, and Government of Andhra Pradesh (GoAP) regarding the proposed Greenfield Standalone Petrochemical Complex, in the state of Andhra Pradesh.

Hindustan Petroleum Corporation Limited is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure. Meanwhile, shares of the company were trading at Rs 531.60 apiece, down 0.73 per cent from the previous close at 09:27 hours on BSE.

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