Joint Ventures & Subsidiaries

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At HPCL, we believe we are stronger, because of the wealth of synergies and benefits due to our Joint Ventures & Subsidiaries. Refining and Marketing of Petroleum Products forms the core business of our Corporation. To access new revenue streams and to augment downstream businesses various opportunities have been explored by us. Accordingly, we have formed subsidiaries and joint venture companies in various areas including Oil Refining and Petrochemicals, Value Added Bituminous Products, Marketing of POL Products, POL Pipelines, Natural Gas Pipelines, LPG Pipelines, City Gas Distribution (CGD), LPG Cavern, LNG terminal, Aviation fuel farm facilities and Biofuels. Given here is an overview of our Joint Ventures & Subsidiaries

Joint Ventures

Logo of HMEL HPCL-Mittal Energy Ltd.(HMEL)

HPCL-Mittal Energy Ltd. (HMEL) is a joint venture between HPCL and Mittal Energy Investments Pte. Ltd., Singapore with equity holding of 48.99% each.

HMEL is a leading integrated refining and petrochemical company in India with operations that span crude oil refining, petrochemical production & marketing. It owns and operates a 11.3 MMTPA Guru Gobind Singh Refinery (‘GGSR’), including various ancillary facilities near Bathinda, in Punjab.

During 2019-20, HMEL recorded crude thruput of 12.24 MMT and achieved consolidated total revenue of Rs 58,752.30 Crore.

After commissioning of the upcoming petrochemical complex in Bathinda, which is currently in advanced stage of construction, the capacity of polymer production at HMEL is expected to increase to about 2 MMTPA.

For excellence in operations, both in refining & pipeline transportation, HMEL has received ‘FIPI Oil & Gas Industry Awards 2019’ under the category of “Refinery of the Year Award (Capacity > 9 MMTPA)” and “Pipeline Transportation Company of the Year-2019.”

Logo of HINCOL Hindustan Colas Pvt Ltd. (HINCOL)

HINCOL is a joint venture of HPCL and Colas S.A., France with equity shareholding of 50% each. HINCOL is engaged in manufacturing and marketing of Bitumen emulsions and modified Bitumen. HINCOL also undertakes various pavement maintenance activities including micro surfacing, slurry sealing & fog sealing and continues to be the market leader in the value added Bitumen segment in India. HINCOL owns and operates 9 strategically located manufacturing plants complying with the requirements of International Standard ISO 9001:2015, 14001:2015 and 45001:2018.

During 2019-20, HINCOL registered sales growth of 9.7% with highest ever sales volume of 251 TMT. HINCOL recorded highest ever total revenue of Rs 874.65 Crore and highest ever Profit After Tax (PAT) of Rs 138.16 Crore.

HINCOL is constructing its 10th Emulsion Plant near Guwahati in the State of Assam. HINCOL has been paying dividend for the last 20 years and has declared highest ever total dividend of 750% for 2019-20.

Logo of SALPG South Asia LPG Co Pvt. Ltd.(SALPG)

South Asia LPG Company Pvt. Ltd. (SALPG) is a joint venture between HPCL and Total Holding India with equity holding of 50% each. SALPG owns and operates an underground LPG cavern having 60 TMT capacity and associated receiving and despatch facilities at Visakhapatnam.

During 2019-20, SALPG cavern recorded highest ever receipt of 1.707 MMT registering a growth of 16.92%. SALPG has achieved total revenue of Rs 206.07 Crore and recorded highest ever Profit After Tax (PAT) of Rs 123.60 Crore.

SALPG has been continuously paying dividend for the last 10 years. For the year 2019-20, SALPG board has recommended highest-ever total dividend of 130%.

SALPG is accorded ISO 9001-2008 certification for Quality Management System, ISO 14001-2004 certification for Environmental Management System and OHSAS 18001- 2007 certification for Occupational Health and Safety Management System.

Logo of BGL Bhagyanagar Gas Ltd. (BGL)

Bhagyanagar Gas Ltd. (BGL) is a joint venture of HPCL and GAIL with equal equity holding of 48.73% each.

BGL has a CGD network comprising 1,602 Km MDPE pipeline and 149 Km steel pipeline and is serving 1,36,953 domestic customers. BGL also operates 95 CNG stations in the cities of Hyderabad, Vijayawada and Kakinada in the states of Andhra Pradesh and Telangana.

During 2019-20, BGL has achieved sales volume of 30,667 MT of CNG and 278.87 lakh Standard Cubic Meter (SCM) of PNG, registering a growth of 4% and 64% respectively over the previous year. BGL has recorded highest ever total revenue of Rs 225.43 Crore and Profit After Tax (PAT) of Rs 19.10 Crore during the year.

Logo of Avantika Gas LtdAavantika Gas Ltd.

Aavantika Gas Ltd. (AGL) is a joint venture of HPCL and GAIL with equal equity holding of 49.99% each.

AGL has a CGD network comprising 2,213 Km MDPE pipeline and 102 Km steel pipeline and is serving 73,964 domestic customers. AGL also operates 54 CNG stations in the cities of Indore, Ujjain, Pithampur and Gwalior in the state of Madhya Pradesh.

During 2019-20, AGL has achieved sales volume of 29,414 MT of CNG and 275.05 lakh SCM of PNG, registering a growth of 12% and 53% respectively over the previous year. AGL has also reported highest ever total revenue of ? 263.09 Crore and highest ever Profit After tax (PAT) of ? 42.05 Crore during 2019-20.

Logo of Petronet MHB ltd. Petronet MHB Ltd. (PMHBL)

Petronet MHB Ltd. (PMHBL) is a joint venture of HPCL and ONGC with equal equity holding of 49.996% each. PMHBL owns and operates a multiproduct petroleum pipeline to transport MRPL refinery’s petroleum products to various parts of Karnataka.

During 2019-20, PMHBL has achieved thruput of 2.925 MMT and reported total revenue of Rs 162.48 Crore and Profit After Tax (PAT) of Rs 88.27 Crore.

In order to tap into renewable resources and to promote usage of clean and green energy, PMHBL has installed solar power plants at its Mangalore, Hassan and Devangonthi Stations including SV Stations with total capacity of 3.63 MWp.

Logo of MRPL Mangalore Refineries and Petrochemicals Ltd. (MRPL)

Mangalore Refinery and Petrochemicals Ltd. (MRPL) is a joint venture of HPCL and ONGC wherein ONGC holds 71.63% of equity, HPCL holds 16.96% equity, and balance equity is held by public. MRPL is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) and operates 15 MMTPA refinery at Mangaluru in Karnataka.

During 2019-20, MRPL achieved refining thruput of 14.14 MMT and recorded consolidated total revenue of Rs 60,062.02 crore.

MRPL commenced production and supply of BS-VI grade transportation fuels in 2019-20 well before the timeframe stipulated by GoI.

Logo of MAFFFL Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL)

Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL) is a joint venture of Mumbai International Airport Private Limited (MIAL), IOCL, BPCL and HPCL with equity holding of 25% each.

The Company is engaged in operation and maintenance of the existing aviation fuel farm facilities and provides Into-plane services at Chhatrapati Shivaji International Airport (CSIA), Mumbai. The Company will construct, maintain and operate the new integrated fuel farm facility on an open access basis. The construction of integrated fuel farm is in full swing at Chhatrapati Shivaji International Airport (CSIA), Mumbai.

MAFFFL achieved thruput of 14.83 lakh KL during 2019-20. MAFFFL has registered total revenue of Rs 119.84 Crore and Profit After Tax (PAT) of Rs 40.05 Crore during 2019-20.

Logo of GIGL GSPL India Gasnet Ltd (GIGL)

GSPL India Gasnet Ltd. (GIGL) is a joint venture of Gujarat State Petronet Ltd. (GSPL), Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Corporation Ltd. (BPCL) and HPCL. HPCL has 11% equity participation in the company and balance equity is held by GSPL (52%), IOCL (26%) and BPCL (11%).

GIGL has been authorised to lay two cross country gas pipelines viz. 1,834 Km long Mehsana to Bathinda Pipeline (MBPL) and 740 Km long Bathinda to Srinagar Pipeline (BSPL). The initial sections of the Projects covering approx. 440 Kms viz. Barmer-Pali Pipeline, Palanpur-Pali Pipeline and Jalandhar-Amritsar Pipeline are in operation from 2018-19 onwards. During 2019-20, the Company has transported about 629.59 MMSCM of gas and has recorded total revenue of Rs 116.23 Crore.

Project implementation activities of various sections of MBPL Project planned under Phase II covering about 930 Kms and traversing through the states of Rajasthan, Haryana and Punjab is under progress.

Logo of GITL GSPL India Transco Ltd (GITL)

GSPL India Transco Ltd. (GITL) is a joint venture of GSPL, IOCL, BPCL and HPCL. HPCL has 11% equity participation in the Company and balance equity is being held by GSPL (52%), IOCL (26%), and BPCL (11%).

GITL has been authorised to lay 1,881 long Km pipeline from Mallavaram to Bhilwara. The initial section of Project from Reliance Gas Transmission India Limited interconnection point at Kunchanapalli to Ramagundam Fertilizers & Chemicals Limited’s Plant at Ramagundam has been commissioned in 2019-20. During the year, the Company has transported about 2.17 MMSCM of gas and has recorded total revenue of Rs 15.23 Crore.

Logo of HSEPL HPCL Shapoorji Energy Pvt. Ltd. (HSEPL)

HPCL Shapoorji Energy Pvt. Ltd. (HSEPL) is a joint venture between HPCL and SP Ports Pvt. Ltd. with equity shareholding of 50% each.

HSEPL has been formed to build and operate a 5 MMTPA LNG regasification terminal at Chhara Port in Gir Somnath district of Gujarat. Major facilities at LNG terminal include marine facilities for berthing and unloading of LNG carrier, storage tanks, regasification facilities and associated utilities.

The project execution has started at site subsequent to receipt of environmental clearance in March 2019.

Logo of GGPL Godavari Gas Pvt. Ltd. (GGPL)

Godavari Gas Pvt Ltd. (GGPL) is a joint venture between Andhra Pradesh Gas Distribution Corporation Limited (APGDC) and HPCL with equity stakes in the ratio of 74:26.

GGPL has been formed to develop and operate city gas distribution network in East Godavari and West Godavari districts of Andhra Pradesh. GGPL has a CGD network comprising a 498 Km of MDPE pipeline and 59.31 Inch Km of steel pipeline and is serving 52,521 domestic customers. GGPL also operates 23 CNG stations in East Godavari and West Godavari districts.

During 2019-20, GGPL has achieved sales volume of 706 MT of CNG and 34.78 lakh SCM of PNG, registering a growth of 18% in CNG sales and 227% in PNG sales. GGPL has recorded total revenue of Rs 14.10 Crore.

Logo of RRPCL Ratnagiri Refinery and Petrochemicals Ltd. (RRPCL)

Ratnagiri Refinery and Petrochemicals Ltd. (RRPCL) is a joint venture company promoted by IOCL, BPCL and HPCL with equity participation in the ratio of 50:25:25. RRPCL has planned to set up a 60 MMTPA refinery along with integrated petrochemical complex at west coast of Maharashtra. Saudi Aramco and ADNOC have also signed an MoU to partner with RRPCL to jointly execute the project alongwith IOCL,BPCL and HPCL.

The pre-project activities including configuration study is in progress.

Logo of HOGPL HPOIL Gas Pvt. Ltd. (HOGPL)

HPOIL Gas Pvt. Ltd. (HOGPL) is a joint venture between HPCL and OIL India Ltd. (OIL) with equity shareholding of 50% each.

HOGPL has been formed to develop and operate CGD networks in geographical areas of Ambala – Kurukshetra districts in the state of Haryana and Kolhapur district in the state of Maharashtra. As on 31st March, 2020, HOGPL has a CGD network comprising of a 594 inch-Km of MDPE pipeline. HOGPL also operates 5 CNG stations in Ambala- Kurukshetra and Kolhapur Geographical Areas.

HOGPL commenced CNG sales in 2019-20 and has recorded sale of 383 MT with total revenue of Rs 3.04 Crore.

Logo of IHBPL IHB Pvt. Ltd. (IHBPL)

IHB Pvt. Ltd. (IHBPL) is a joint venture company promoted by IOCL, BPCL and HPCL with equity participation in the ratio of 50:25:25.

IHB Private Limited has been incorporated on 9th July, 2019 to construct, operate and manage about 2,800 Km long Kandla-Gorakhpur LPG Pipeline, longest LPG pipeline in the world, for meeting the LPG demand of the bottling plants enroute the pipeline in Gujarat, Madhya Pradesh and Uttar Pradesh.

Financial closure of the project has been achieved and project implementation is underway.

Subsidiary Companies

Logo of Prize Petroleum Company Ltd Prize Petroleum Company Ltd.

Prize Petroleum Company Ltd. (PPCL) is a wholly owned subsidiary of HPCL. PPCL is the upstream arm of HPCL and is in the business of Exploration and Production (E&P) of Hydrocarbons as well as providing services for management of E&P blocks.

PPCL has a wholly-owned subsidiary namely Prize Petroleum International Pte Ltd. (PPIPL), incorporated in Singapore. PPIPL has participation interest of 11.25% and 9.75% in two E&P blocks [T/L1 and T/18P (retention leases T/RL2, T/RL3, T/RL4 & T/RL5) respectively] in Australia. During 2019-20, PPIPL has achieved its share of production of 287,559 BoE (Barrels of Oil Equivalent) from Yolla producing field (T/L1).

During 2019-20, PPCL has recorded total revenue of Rs 73.66 Crore on consolidated basis.

Logo of HBL HPCL Biofuels Ltd. (HBL)

HPCL Biofuels Ltd. (HBL) is a wholly-owned subsidiary company of HPCL. HBL was promoted as a backward integration initiative to enable HPCL’s foray in manufacturing of ethanol for blending in Petrol. HBL has two integrated Sugar -Ethanol-Cogeneration plants at Sugauli and Lauriya in the state of Bihar.

During 2019-20, HBL has recorded total revenue of ? 303.06 Crore and cane crushing of 614 TMT. HBL achieved sugar production of 54,835 MT, ethanol production of 7,063 KL and power generation of 53,036 MWh during 2019-20.

Logo of HRRL HPCL Rajasthan Refinery Ltd. (HRRL)

HPCL Rajasthan Refinery Ltd. (HRRL) is a joint venture of HPCL and Government of Rajasthan with 74% equity participation by HPCL and 26% by Government of Rajasthan. HRRL is setting up a 9 MMTPA greenfield refinery cum petrochemical complex in the state of Rajasthan.

The project of setting up of refinery is in progress. EPC orders have been placed for 5 major process units out of total 13 process units and for most of the long lead items. Construction work for major process units for which orders are placed, main control room, main ware house, utility plants, approach road from national Highway etc. are in progress.

Logo of HMEFZCO HPCL Middle East FZCO

HPCL Middle East FZCO, a wholly-owned subsidiary of HPCL has been formed for marketing of lubricants and other petroleum products across various markets of Middle East, Africa and in the region of Commonwealth of Independent States (CIS).

The Company is registered under the DAFZA (Dubai Airport Free Zone Authority) and has trade license for trading in lubricants and greases, petrochemicals and refined oil products.

HPCL Middle East FZCO has registered sales of 153 MT of value added lubricants with total revenue of 0.76 million AED (Rs 1.46 Crore) during the year.

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