Mohali, March 13 HPCL-Mittal Energy Limited (HMEL) will invest ₹2,600 crore in the specialty and fine chemicals sector in Punjab, renowned industrialist Lakshmi Niwas Mittal said on Friday.
HMEL will also enter the retail fuel sector and open 500 retail outlets across the country, he added.
Mittal, who is also the executive chairman of ArcelorMittal, was addressing a gathering during the three-day Progressive Punjab Investors Summit 2026, which began here on Friday.
On the occasion, Punjab Chief Minister Bhagwant Mann, AAP national convener Arvind Kejriwal, and other dignitaries were present.
The AAP government is holding the summit to showcase investment opportunities in Punjab.
During his address, Mittal said HMEL is now moving forward with investments in the specialty and fine chemicals sector.
"We are moving forward in the specialty and fine chemicals sector for which we are announcing a new investment of ₹2,600 crore," Mittal said.
Referring to HMEL's Guru Gobind Singh refinery in Bathinda, he said ₹60,000 crore has been invested so far, making it the biggest investment in Punjab.
The project, which began in 2008 with a capacity of 9 million metric tonnes, has been expanded to 13.50 million MT over time and stands as Punjab's only oil refinery, playing a crucial role in meeting the energy demand.
The Bathinda refinery not only meets the energy requirement of Punjab but also caters to other states, including Himachal Pradesh, Haryana, Delhi, Uttar Pradesh, Delhi-NCR, Uttar Pradesh, Madhya Pradesh, Jammu and Kashmir, and Uttarakhand, he said.
Considering the rising demand for LPG in the country, its production has been raised from 1,000 tonnes per day to 3,000 tonnes per day, he said.
Mittal further stated that with the support of the Punjab government, a world-class petrochemical complex has been established here.
This has significantly contributed to the social and economic development of the Bathinda region, he said.
The company has also set up a bio-ethanol plant, which produces around 10 crore litres of ethanol annually and contributes to India's fuel blending programme, he added.
The company is also investing in green energy in Bathinda and will further increase its participation in renewable and sustainable energy in the future.
"We are entering the petrol pump sector. In the first phase, we will set up 500 new retail outlets across the country, equipped with modern technology and AI-enabled systems," he said.
Mittal said a large downstream industrial ecosystem can be developed around the refinery and petrochemical industry in Punjab.
This ecosystem would create extensive opportunities for plastic processing, specialty chemicals, packaging, auto components, textiles, and other manufacturing units, he noted.
Mittal said he spoke to Mann and Kejriwal on Friday in this regard.
He said the government has assured that a downstream industry complex will be developed over 1,500 acres in Bathinda.
Mittal also stressed skill development for the youth in the state.