(ET)
: Hindustan Petroleum Corporation (HPCL) has almost exhausted its entire planned capital expenditure for this financial year in the first nine months, much faster than the average 67 per cent for all staterun oil companies during April-December 2019.
HPCL has a target to spend Rs 9,500 crore in 2019-20 on a range of projects from upgrading its existing refineries in Mumbai and Vizag to setting up a new refinery-cumpetrochemical complex in Rajasthan, adding fuel pipelines and marketing infrastructure. The company has been quick on project execution, spending Rs 9,239 crore by the end of December, about 97 per cent of the annual target.
