Hindustan Petroleum Corp Ltd (HPCL)said its180,000-barrels-per-day Bhatinda refinery was expected to go on stream by February or March of 2011.
The refinery is being set up by a consortium of HPCL and Mittal Energy, a company owned by billionaire Lakshmi Mittal.
Arun Balakrishnan, chairman HPCL told a conference in New Delhi yesterday, to announce the company's annual results, that the refinery would begin crude processing from February-March with the supply of refined products set to begin in April-May.
"By June 2011 the refinery will be fully commissioned," he said, adding the new plant would meet fuel demand of northern states of Punjab, Haryana, Delhi and Uttar Pradesh and parts of eastern state of Bihar.
He added that a final decision on the capacity and location of the new coastal refinery in western Maharashtra state would be taken by end-August. He said the refiner was looking to put up a 300,000 bpd-400,000 bpd refinery.
"As per current estimates an investment of about 300 billion rupees ($6.40 billion) would be required for 300,000 bpd to 320,000 bpd refinery," he added.