Bharat Petroleum mulls polyurethane joint venture in Kochi with Manali Petrochemicals Ltd.

05-Aug-13

Oil major Bharat Petroleum Corporation Ltd (BPCL) is in the process of exploring a 50:50 polyurethane (PU) joint venture in Kochi with city-based Manali Petrochemicals Ltd., at an outlay of around Rs.2,500 crore. "We are in the process of exploring a joint venture with Manali Petrochemicals to set up a polyurethane project in Kochi. A joint study is being made, as per an undisclosed BPCL official to IANS. BPCL is expanding its refinery capacity at Kochi to around 15.5 mln mtpa from the current 9.5 mln mtpa. Once the expansion goes on stream, the company will have propylene capacity of 500,000 tpa - a quantum jump from its existing 50,000 tpa. This propylene could serve as feedstaock for the proposed PU plant. "The plant capacity will be dependent on the availability of propylene. A 300,000 tpa plant will be ideal," officials said.