State-owned fuel retailers losing Rs 3 per litre on selling diesel, profit on petrol
This has resulted in losses when input cost was higher and profits when raw material prices were lower.
L&T Hydrocarbon Engineering Ltd (LTHE) on Thursday said it has bagged an order worth over Rs 1,600 crore from Hindustan Petroleum Corp Ltd (HPCL), Visakhapatnam Refinery.
According to the wholly-owned subsidiary of engineering and construction major L&T, the project is a part of HPCL Visakh Refinery Modernisation Project (VRMP) and involves “engineering, procurement, construction and commissioning of 3.053 MMTPA full conversion hydrocracker project”.
“The order reinforces L&T’s unique capability to deliver ‘design to build’ engineering and construction solutions across the hydrocarbon spectrum,” the company said in a statement.
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