Mittal announces Rs 2,600 cr investment in Punjab; 1st petrol pump in Bathinda

Chandigarh: Leading industrialist Lakshmi Niwas Mittal, executive chairman of ArcelorMittal, on Friday announced that HPCL-Mittal Energy Limited's Guru Gobind Singh Refinery would invest Rs 2,600 crore in the specialty and fine chemicals sector in the coming years.Speaking at the Progressive Punjab Investors' Summit, Mittal also announced that HPCL-Mittal Energy Limited (HMEL) was entering the fuel retail sector. Under this initiative, 500 new retail outlets will be opened across the country. The process has already begun, and Punjab's first retail outlet will soon be set up in Bathinda. The outlet will be equipped with advanced technology and AI-enabled systems, he said.He further said HMEL was now moving forward with investments in specialty and fine chemicals, which would open new opportunities for the pharma and chemical sectors. The company is also investing in green energy in Bathinda and will further increase its participation in renewable and sustainable energy in the future.Mittal said HMEL had so far invested over Rs 60,000 crore in Punjab, making it the state's largest single-site investment. The project, which began in 2008 with a capacity of 9 million metric tonnes, expanded over time and today stands as Punjab's only oil refinery, playing a crucial role in meeting the country's growing energy demand, he pointed out.Considering the rising demand for gas in the country, gas production under this project increased from 1,000 tonnes per day to 3,000 tonnes per day, he added.Mittal also said, with the support of the Punjab govt, a world-class petrochemical complex had been established here, producing approximately 1.2 million metric tonnes of polyethylene and 0.5 million metric tonnes of polypropylene annually. This significantly contributed to the social and economic development of the Bathinda region.The company also set up a bio-ethanol plant with a capacity of 300 kilolitres per day, which produces around 100 million litres annually and contributes to India's fuel blending programme, said Mittal.He also suggested several measures to the govt, including the development of dedicated industrial clusters and plug-and-play infrastructure for downstream industries, a special focus on skill development for youth, and strengthening logistics and supply chains so that Punjab could emerge as a major manufacturing and export hub for north India.Downstream industrial complex (BOX)Industrialist Lakshmi Niwas Mittal on Friday said a large downstream industrial ecosystem could be developed around the refining and petrochemical industry in Punjab. This ecosystem will create extensive opportunities for plastic processing, speciality chemicals, packaging, auto components, textiles, and other manufacturing units, he said, adding that the AAP govt assured that a downstream industrial complex would be developed over 1,500 acres in Bathinda in the coming years.MSID:: 129556269 413 |