With love from Hindustan Petroleum to Suzlon

With love from Hindustan Petroleum to Suzlon

The state owned Hindustan Petroleum Corporation Limited has positioned a second round of 25.5 MW volume wind power order with Suzlon Energy, which is known as the world's third largest craftsman of the wind power turbines.

The wind power project order which been initiated by the HPCL is based at Akal in Jaisalmer, Rajasthan. The project entails approximately 17 units of Suzlon's S82 - 1.5 MW wind turbines which is kept in the list for the upcoming commissioning round by the Q3 of FY 2010-11.

Govt Declares Issue Of Oil Bonds Worth Rs 219.42 Billion

Indian government has declared the issue of ‘6.90% Oil Marketing Companies’ Government of India Special Bonds, 2026’ for Rs 219.42 billion (nominal).

The special bonds are being issued to 3 oil marketing companies (OMCs) as compensation for estimated under-recoveries due to sale of sensitive petroleum products in the existing financial year.

The following listed oil marketing companies will get special bonds at par:

- Indian Oil Corporation (IOCL) for Rs 119.44 billion.

HPCL inks MoU with Shree Renuka Sugars

State-run Hindustan Petroleum Corporation Ltd has signed a Memorandum of Understanding (MOU) with Shree Renuka Sugars Ltd for formation of a Joint Venture Company for the purposes of setting up of an Integrated Sugar Plant in the State of Maharashtra.

The joint venture sugar plant will produce Ethanol with associated facilities.

Recently, HPCL has announced that it will start producing superior quality Euro-IV petrol from both its Mumbai and Vizag refineries by the year end.

Artson Engineering secures order worth Rs 36.27 crore

Artson Engineering Limited has secured an order worth Rs 36.27 crore from HPCL - Mittal Energy Ltd for Crude Oil Storage Tanks (4 nos.) work for the Guru Gobind Singh Refinery Project at Bhatinda, Punjab.

In January, this year Tata Projects Limited (TPL) has acquired a majority stake at 75 per cent in Artson Engineering Limited (AEL).

The scrip of the company slipped 5 per cent to Rs 35 at the close of Friday's trading with over 6,500 shares changing hands on the BSE.