He said that the new investment of Rs 2,600 crore will support this expansion.

Lakshmi Mittal’s HMEL to Invest Rs 2,600 Crore in Punjab Chemicals, Fuel Retail

Industrialist Lakshmi Niwas Mittal on Friday announced fresh investment plans for Punjab, saying that HPCL-Mittal Energy Limited (HMEL) will invest Rs 2,600 crore to expand into the speciality and performance chemicals segment. The announcement was made during the three-day Progressive Punjab Investors Summit 2026, where industry leaders and policymakers gathered to discuss investment opportunities in the state.

Addressing the event, Lakshmi Niwas Mittal said the company is preparing to move into the speciality and performance chemicals sector as part of its next phase of growth. He said that the new investment of Rs 2,600 crore will support this expansion.

Mittal also revealed that HPCL-Mittal Energy Limited plans to enter the retail fuel market. According to him, the company intends to open around 500 fuel retail outlets across the country as it diversifies its operations beyond refining.

During his remarks, Mittal highlighted the scale of HMEL’s existing presence in Punjab. Referring to the Guru Gobind Singh Refinery operated by the company in Bathinda, he said that a total investment of about Rs 60,000 crore has already been made in the project, making it the largest investment in the state.

The summit was attended by several political leaders, including Bhagwant Mann and Arvind Kejriwal, as the state government seeks to showcase Punjab as a destination for industrial investment.