Hindustan Petroleum

Hindustan Petroleum Enters Into Ethanol Business

Public sector oil major Hindustan Petroleum Corporation (HPCL) has divulged that it has forayed into the ethanol business by joining hands with Shree Renuka Sugars to construct an integrated sugar mill in Maharashtra.

The source close to the company remarked that the two companies have inked an agreement to promote a joint venture company for the sugar mill with associated facilities for producing ethanol.

According to the sources, the important details of the joint venture and levels of investment by the partners are yet to be finalized.