Bharat Petroleum Corporation Ltd. (BPCL) is looking to invest about Rs 45,000 crore in its petrochemical business over the next five years. This is part of the state-run oil company’s planned capacity expansion of Rs 1 lakh crore.
“Currently, only 1 percent of our throughput is getting converted into petrochemicals. Going forward, anywhere between 10-15 percent will be our target,” D Rajkumar, chairman and managing director told reporters at a press conference. The additional investment will translate into higher profitability by 2023, he said.
The oil refining and marketing company will use this investment to venture into niche petrochemicals through its Propylene Derivatives Petrochemical Project at the Kochi refinery. Read More…
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