Bharat Petroleum Corporation Ltd (BPCL) plans to purchase outright, critical technology to produce speciality propylene derivatives-based products such as acrylic acid and acrylates, for its Kochi plant. This decision was taken after BPCL failed to get South Korean LG Chemicals on board as a technology partner. A year after signing an agreement with BPCL in July 2012, LG Chemical walked out of the JV in August 2013 citing adverse international environment for large investments.
BPCL is setting up the Rs 5,000 crore petrochemical project adjacent to its Kochi refinery to produce 250 mln tons of speciality propylene derivatives products. The petrochemical project is part of the Rs. 165 bln expansion that Bharat Petroleum is undertaking to upgrade and increase capacity at the refinery from 9.5 mln tons to 15.5 mln tons by December 2015.
24-Sep-14 
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