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BPCL to invest Rs 1.7 trillion in petrochemicals, green energy, refining

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Bharat Petroleum (BPCL) plans to invest Rs 1.7 trillion over the next five years in petrochemicals, green energy, fuel marketing, and oil refining. Under its strategic plan ‘Project Aspire,’ BPCL aims to strengthen its core operations in refining and marketing while expanding into emerging sectors like green energy, gas, and non-fuel retail.

Key investments include Rs 490 billion for an ethylene cracker project at the Bina refinery in Madhya Pradesh, which will boost refining capacity to 11 million tonnes by 2029, and a polypropylene project at the Kochi refinery in Kerala, expected to be completed by 2027.

BPCL also plans to install fast chargers at 6,000 retail outlets across 400 highway corridors and expand its renewable energy capacity to 2 GW by 2025 and 10 GW by 2035. The company has allocated Rs 10 billion for two 50 MW wind power plants and Rs 3 billion for a 72 MW solar project. Additionally, BPCL is developing green hydrogen projects and focusing on biofuels, including 20% ethanol-blended petrol at 4,279 outlets.

Currently, BPCL holds 14% of India’s oil refining capacity and 25% of the fuel retail network. The company is also setting up a corporate venture capital fund to invest in promising startups.

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