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BPCL to Invest Rs 50,000 Crore in New Refinery and Petrochemical Expansion

BPCL to Invest Rs 50,000 Crore in New Refinery and Petrochemical Expansion

Polymer June 17, 2024

Bharat Petroleum Corporation Limited (BPCL) has announced plans to build a new 12 million metric tonnes per annum (MMTPA) refinery, investing Rs 50,000 crore. The state-owned oil marketing giant is assessing locations in Andhra Pradesh, Uttar Pradesh, and Gujarat. This initiative aims to meet the growing fuel demand in India and follows the stalled 60 MMTPA Ratnagiri project. BPCL Chairman G Krishnakumar outlined a broader vision to expand the company’s refining capacity to 45 MMTPA by FY29. The new refinery is part of a larger Rs 1.7 trillion investment plan over five years, focusing on refining, fuel marketing, petrochemicals, and clean energy. Key allocations include Rs 75,000 crore for refineries and petrochemical projects, Rs 8,000 crore for pipelines, and over Rs 20,000 crore for marketing ventures. BPCL is also expanding its EV charging infrastructure and renewable energy portfolio, aiming for Net Zero emissions by 2040. This strategic expansion underscores BPCL’s commitment to strengthening its market presence while transitioning to sustainable energy solutions.