Hindustan Petroleum Corp. (HPCL) will outsource the operation and the maintenance of its two integrated sugar and ethanol mills in Bihar. In 2008, HPCL through its subsidiary HPCL Biofuels Ltd. (HBL) had acquired two technically bankrupt sugar mills from the Bihar government on a 60-year lease, extendable by another 30 years. The mills are at Sugauli in East Champaran and Lauriya in West Champaran districts. The company paid about INR950 mln ($1=INR47.033) for the two mills which were closed since 1996. HPCL invested around INR6.5 bln in revising the two mills which started crushing early this year. The mills have… Login to continue

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