The upcoming petchem facility, adjacent to its Kochi refinery, once completed will produce 250 million tonne speciality propylene derivative products, which are fully imported now.
The petchem project is part of the over Rs 20,000-crore expansion Bharat Petroleum Corporation Ltd (BPCL) is undertaking to upgrade and increase its refining capacity from 9.5 million tonne to 15.5 million tonne. The expansion is alone will cost the Rs 16,500 crore and is expected to be completed by December 2015.
The Kochi refinery currently produces petrochemical feed stocks such as benzene, toluene and propylene.
Post-expansion and technology upgrade, it will be able to process Euro V petrol and diesel.
BPCL currently has four refineries-- in Mumbai, Kochi, Bina in MP and Numaligarh in Assam.
Last week, BPCL announced a massive expansion of its refinning capacity to 50 mt from 30 mt at an investment of Rs 40,000 crore over the next five years as part of its planned Rs 1 lakh crore cpaex under Project Sankalp.
Out of the Rs 1 lakh crore capex, it will spend Rs 25,000 crore in upstream development, including developing its Brazilian and Mozambique oil and gas fields and buying more oil equity abroad and the remaining amount will be pumped into marketing spends and other developmental activities.
Refinery expansion will the Kochi capacity rising to 15 million from the present 9 million tonne, that of Bina to 15 million tonne from 6 million tonn, a threefold rise in the throughout levels from the Numaligarh refinery in Assam to 9 million tonne.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
