HMEL crosses record 2 MT Polymer Sales Mark In FY25

New Delhi: HPCL-Mittal Energy Ltd (HMEL), India's major oil refining and petrochemical company, achieved a record 2 million tonnes of polymer sales in the fiscal ended March 2025, surpassing expectations and reinforcing its position as an industry trailblazer. "This accomplishment is the result of HMEL's unwavering commitment to understanding customer needs and providing tailored solutions for niche applications across various polymer segments," the firm said in a statement.

HMEL has undertaken a massive $3 billion expansion of petrochemical capacity, increasing its polypropylene capacity to 1 million tonnes a year, and adding a polyethylene capacity of 1.2 million tonnes per annum, catering to the major application segments. 2024-25 was the first full year of operations of the new plant featuring pioneering technologies from world-class licensors. HMEL is a joint venture between state-owned Hindustan Petroleum Corporation Limited (HPCL) and Mittal Energy Investment Pte Ltd, Singapore - part of the Lakshmi N Mittal Group. Both the joint venture partners hold a 49 per cent stake each in the company, the balance of 2 per cent is held by Indian financial institutions.