BPCL is on an expansion binge. The state-owned refiner plans to invest Rs 18,000 crore over the next five years on expansion plan which would take its refining capacity from 31 million tonne (mt) to 50 mt.
“Including our subsidiaries, our refining capacity is somewhere about 31 mt, we are planning to move closer to 50 mt by somewhere around 2022. This will see an investment of approximately about Rs 18,000 crore,” D Rajkumar, chairman and managing director of BPCL, told a newspaper.
Under the proposed expansion roadmap, the company is planning to have at least 15 mt capacity in each of its refineries, including Mumbai, Kochi and Bina (Madhya Pradesh). It also plans to expand capacity of the Numaligarh refinery in Assam from 3 mt to 9 mt per annum.
“The Rs 1.08-lakh-crore investment that we have lined up for the next five years include the expansion of our refineries, marketing sector and also our upstream presence,” Rajkumar said. The company also plans to add more than 1,000 outlets a year.
BPCL is the third-largest crude refiner and marketer of petroleum products in India. While it has more refining capacity than its close competitor Hindustan Petroleum Corporation Ltd (HPCL), it lags behind the latter in fuel retailing presence.
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