New Delhi, August 20, 2024.
State-owned Bharat Petroleum Corporation Ltd has proposed to invest Rs 1.7 lakh crore over the next five years in petrochemicals, green energy, gasoline marketing and oil refining businesses.
BPCL has launched ‘Project Aspire’, a five-year strategic framework with a planned capital expenditure of Rs 1.7 lakh crore. The project is based on two pillars: ‘Nurturing the Core’ (refining, marketing, and upstream petroleum products) and ‘Investing in Future Big Bets’ (petrochemicals, gas, green energy, non-fuel retail, and digital), the company said in its Annual Report.
BPCL said it is implementing petrochemical projects at two of its three oil refineries. “A Rs 49,000 crore ethylene cracker project is being developed at the Bina refinery in Madhya Pradesh, with oil refining capacity increasing from 7.8 million tonnes to 11 million tonnes by 2029. A polypropylene project is planned at the Kochi refinery in Kerala by 2027,” BPCL Chairman and MD G Krishnakumar said.
