After receiving clearance from Union environmental ministry and loan commitment of Rs 4000 crore from State Bank of India (SBI), State-run oil refiner Bharat Petroleum Corporation (BPCL) is all set to start work on the petrochemicals complex in Kochi. The company is hoping to resume work and complete it as per schedule in 2018.
The Kochi petchem project is part of the Rs 1 lakh crore planned capex for the next five years, out of which Rs 40,000 crore will be spent on refining capacity addition alone.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.