BPCL to invest Rs 4,588 crore in petrochemicals sector

09-Dec-14

Bharat Petroleum (BPCL) plans to invest Rs 4,588 crore (US $741.44 mln) to diversify into the petrochemicals business, a move that will help boost margins by expanding beyond refining and retailing. BPCL plans to boost capacity at its Kochi refinery to 310,000 bpd from the current 190,000 bpd by May 2016. The project proposal will now be submitted for obtaining environmental clearance and the petrochemical unit is expected to come on stream during financial year 2018-2019, BPCL said.