Hindustan Petroleum Revives $9B Refinery As Demand Rises

Law360, New York (May 28, 2013, 5:52 PM EDT) -- Mumbai-based Hindustan Petroleum Corp. Ltd. has resuscitated plans to build a $9 billion refinery and petrochemical plant with the help of partners also based in India and abroad as the company looks to satisfy higher energy demand in its home country, an executive told reporters on Tuesday.

Plans for the complex had been put on hold in 2009 amid widespread economic uncertainty and a weak petrochemicals market that left its developers wary of plunking down such a hefty sum on a new effort. But with a...
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