BPCL to invest US$ 8.95 billion (Rs. 75,000 crore) in expanding refining capacity

State-run Bharat Petroleum Corporation Ltd (BPCL) will invest US$ 8.95 billion (Rs. 75,000 crore) over the next 5 years to expand its refining and petrochemical capacities, according to Chairman Mr. G Krishnakumar. Speaking at the company's annual general meeting, Krishnakumar outlined BPCL's ambition to become a major player in India's petrochemical sector. Last fiscal, BPCL announced 2 new petrochemical projects in Bina and Kochi with a total investment of US$ 6.44 billion (Rs. 54,000 crore).

The ethylene cracker project at Bina Refinery in Madhya Pradesh, costing US$ 5.85 billion (Rs. 49,000 crore), will expand the refinery’s capacity from 7.80 MMTPA to 11 MMTPA to support petrochemical production. BPCL is also exploring further expanding integrated refining and petrochemical capacities within the next 5-7 years to meet anticipated demand. The company is investing US$ 1.19 billion (Rs. 10,000 crore) in green energy initiatives, aiming to develop 2 GW renewable energy capacity by 2025 and 10 GW by 2035. Additionally, BPCL is advancing green hydrogen projects, including a 5 MW electrolyzer plant at Bina and a Green Hydrogen refuelling station at Kochi. The company has installed over 3,100 EV charging stations. It plans to increase this to 7,000, focusing on establishing 4-wheeler fast chargers at around 6,000 retail outlets across 400 highway corridors in the next 5 years.

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