BPCL to invest Rs 75,000 cr in expanding refining capacity

State-run Bharat Petroleum Corporation Ltd (BPCL) will invest Rs 75,000 crore to expand refining and petrochemicals capacity over the next five years, company chairman G Krishnakumar told shareholders at the company’s annual general meeting.
The ethylene cracker project at Bina refinery in Madhya Pradesh, conceived at a gross cost of Rs 49,000 crore, involves brownfield expansion of the refinery capacity from 7.80 MMTPA to 11 MMTPA to primarily cater to the feed requirements of petrochemical plants.India’s booming economy is driving a significant increase in energy demand. Petroleum product consumption is expected to rise steadily by 4-5% annually for the foreseeable future. Similarly, the demand for major petrochemical products is also expected to rise by 7-8% annually.

This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes.

Additionally, BPCL is focussing on greening its operations by investing Rs 10,000 Crore in green energy.

The company said it is taking significant steps to increase its renewable energy capacity and has set targets to build 2 GW of renewable energy capacity by 2025 and 10 GW by 2035
The company has installed over 3,100 charging stations and plans to expand to 7,000 stations in the near future. By introducing the innovative Highway Fast Charging Corridors concept, BPCL has expanded its EV fast-charging network to around 900 stations across 120 key corridors, alleviating range anxiety for EV users.