Bharat Petroleum Corp (BPCL), India’s second-largest public sector refinery, is planning to invest about Rs 20,000 crore for setting up a petrochemical plant and expansion of the Kochi refinery over the next five years. The company is aiming to expand Kochi refinery from 9.5 million million tonne per year to 15 million tonne a year. With the said expansion, BPCL is looking at manufacturing some propylene derivatives, which are currently imported and not manufactured in the country.
The company is looking at diversification into petrochemicals by building a niche speciality chemical project at a cost of Rs 5,000-6,000 crore at Kochi, and plans to rope in a multinational partner for the project.
Besides the Kochi refinery expansion, BPCL plans to add capacity at the new joint venture grassroots refinery it commissioned this year in Bina in Madhya Pradesh and also add capacity at its Mumbai refinery. Bina refinery, which was inaugurated in May, is expected to stabilise by year-end.
Besides Mumbai, Kochi and Bina refinery, the company also operates 3 million tonne Numaligarh Refinery in Assam.
Company Name | CMP |
---|---|
Reliance Industries | 2911.25 |
Indian Oil Corp. | 167.20 |
BPCL | 646.50 |
HPCL | 546.65 |
MRPL | 213.90 |
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