BPCL to invest Rs 52, 731 crore in expanding capacities – EQ Mag
The ethylene cracker project at Bina Refinery, which includes downstream petrochemical plants and refinery expansion, has been authorised by the board of the state-owned Bharat Petroleum Corporation Ltd (BPCL), according to the firm.
The Ethylene Cracker Project, which will power the manufacturing of necessary petrochemicals, is the mainstay of the expansion initiatives. The project includes building an ethylene cracker (EC) complex, downstream petrochemical plants, increasing the capacity of Bina Refinery from 7.8 MMTPA to 11 MMTPA, and constructing related facilities. “BPCL has jumped into the world of petrochemicals as we embark on the 49000 Ethylene Cracker project in our Bina Refinery, in line with the expansion of Refining capacity to 11 MMTPA,” said G Krishnakumar, C&MD, BPCL. This is a turning point in our strategic effort to be at the forefront of serving India’s rapidly expanding
demand for energy and petrochemical goods, especially when combined with our investment in wind energy and new age petroleum oil lubricants plants developed for sustainable operations.
The business announced in an exchange release that the board has also approved the construction of two 50 MW wind power plants for captive use, one at the Bina refinery in Madhya Pradesh and the other at the Mumbai refinery in Maharashtra. The two 50 MW wind power plants will cost about Rs 978 crore in total (Rs 489 crore for each project).
At Rasayani in Maharashtra, BPCL is making large investments in Petroleum Oil Lubricants (POL) and Lube Oil Base Stock (LOBS) plants with reception pipelines. The goal of this project, which is expected to cost around Rs. 2,753 crore, is to increase storage space, improve the supply chain, and streamline the distribution of vital petroleum products.
The business went on to say that these growth projects are in line with its ambition to diversify and grow in related and alternative industries in order to generate new sources of income and a greener environment by increasing its portfolio of renewable energy sources and achieving Net Zero targets for Scope 1 and Scope 2 emissions.
“The Bina Refinery expansion project and other measures show BPCL’s commitment to meeting the changing energy needs of the country and ensuring energy security and sustainability. The company’s position in the petrochemical sector will be strengthened by these investments, which will also help the regions where the projects are located thrive economically, according to BPCL. On the BSE, BPCL’s stock was trading at Rs 366.45, up 1.15%.
Source: PTI
