HPCL CHALKS OUT STRATEGY TO ENTER NEW AREAS
Article Abstract:
Hindustan Petroleum Corporation Ltd (HPCL), in which the Indian government holds 51 percent stake, plans to enter into new areas such as oil production, transportation and revamping operations. It is planning to float a new joint venture, Prize Petroleum (PP), in alliance with the Industrial Credit and Investment Corporation of India (ICICI), Housing Development Finance Corporation (HDFC) and TDICI. The three financial institutions together will hold 50 percent stake in PP while the rest will be held by HPCL. PP will be involved in oil production. HPCL will set up the Bangalore-Hasan-Mangalore pipeline which will help raise the capacity of Mangalore Refienry and Petrochemical Ltd (MRPL) from three million tonnes to nine million tonnes. It is in the process of finalising a joint venture partner for the Bhatinda refinery. Both HPCL and the government of Punjab is planning to lift 26 percent stake each in the joint venture. (gs)
Comment:
Plans to enter into new areas such as oil production, transportation and revamping operations
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HPCL: FUEL'S PARADISE LOST
Article Abstract:
Hindustan Petroleum Corporation Ltd (HPCL) has drawn up a major restructuring programme in consultation with Anderson Consulting. The programme envisages splitting of the company into four independent Strategic Business Units (SBUs) - LPG, lubricants, retail sales and industrial and government (I&G) sales. These SBUs will have greater authority and they will be allowed to clear projects worth more than Rs50 crore without consulting the directors. To upgrade its information technology, HPCL plans to invest around Rs100 crore in this area over the next two years. An Enterprise Resource Planning (ERP) package will be implemented, which will cover the entire operations of the company including money receipts, financial accounting and sales operation. A wide area network also will be installed in the corporate headquarters. (gsh)
Comment:
Draws up major restructuring program in consultation with Anderson Consulting
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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