BPCL to invest Rs. 4,800 crore in a propylene derivative plant

20-Jan-15

Bharat Petroleum Corporation plans to invest Rs. 4,800 crore in the propylene derivative petrochemical project in Kochi, which was earlier planned as a joint venture. Environmental clearance for the project is expected in about a couple of months, after which BPCL will choose its technology partner. BPCL has identified six technology partners for the project. The BPCL Board had already given its approval for the investment subject to environmental approval. Cost of the integrated refinery expansion and petrochemical project is Rs. 25,000 crore and is the single largest investment in Kerala. Propylene for the project will be sourced from the expanded refinery. The capacity of the refinery is being raised from 9.5 mln tpa to 15.5 mln tons.