MOSCOW (MRC) -- Bharat Petroleum Corp. Ltd. (BPCL) has approved a project to add petrochemical production capacity at its 7.8-million tonne/year (tpy) refinery at Bina, Madya Pradesh, India, said Ogi.
At a meeting of the company’s board on May 15, BPCL approved an investment of 490 billion rupees (nearly $6 billion) for an ethylene cracker project at the Bina refinery that, alongside a cracker, would include the addition of other downstream petrochemical plants as well as an expansion of the refinery, the operator said in separate regulatory filings to BSE Ltd. and the National Stock Exchange of India Ltd.
While the operator has yet to reveal further details regarding either the capacities and types of the proposed cracker and downstream units or the precise nature of the planned refinery expansion, BPCL told investors in a December 2022 presentation that it planned to invest 380 billion rupees to add about 2.8 million tpy of petrochemical production capacity to its refining operations between 2022-27.
We remind, Bharat Petroleum Corporation Limited (BPCL) is India’s second-largest government-owned downstream oil producer after ONGC. The company plans to set up 240-MW of renewable power capacity at Rs 600 crore this fiscal year. Sukhmal Jain, the Marketing Director of BPCL, said that the firm would soon build up solar and wind power facilities.