BPCL to Invest Rs 1.7 Lakh Crore in Several Sectors

State-owned Bharat Petroleum Corporation Ltd (BPCL) has declared plan to invest Rs 1.7 lakh crore over the next five years. This significant capital expenditure will focus on expanding its petrochemicals, green energy, gasoline marketing, and oil refining businesses.

Project Aspire: A Five-Year Strategic Framework:

BPCL has launched ‘Project Aspire,’ a comprehensive five-year strategic framework to guide the company’s growth. The project is centered around two main pillars:

1. Nurturing the Core: This includes investments in traditional areas such as refining, marketing, and upstream petroleum products.
2. Investing in Future Big Bets: Focus areas include petrochemicals, gas, green energy, non-fuel retail, and digital initiatives.

Major Projects and Investments:

• Petrochemical Projects: BPCL is developing a Rs 49,000 crore ethylene cracker project at its Bina refinery in Madhya Pradesh. This project will increase the refinery’s capacity from 7.8 million tonnes to 11 million by 2029. A polypropylene project is planned at the Kochi refinery in Kerala and is expected to be completed by 2027.
• Electric Vehicle Charging Infrastructure: The company plans to install fast chargers for 4-wheelers at 6,000 retail outlets across 400 highway corridors within five years. BPCL has over 3,000 EV charging stations, including 900 fast chargers on 120 highway corridors.
• Renewable Energy Development: BPCL aims to develop 2 GW renewable energy capacity by 2025 and expand to 10 GW by 2035. This includes investments of Rs 1,000 crore in two 50 MW wind power plants and Rs 300 crore in a 72 MWp solar project.
• Green Hydrogen and Biofuels: The company is executing green hydrogen projects, including a 5 MW electrolyser plant at the Bina refinery. BPCL also focuses on biofuels, selling petrol with a 20 percent ethanol blend at 4,279 outlets and constructing compressed biogas plants.

Market Position and Future Plans by BPCL:

BPCL currently holds 14 percent of India’s oil refining capacity and controls 25 percent of the fuel retailing network. The company is also establishing a corporate venture capital fund. It will invest in promising startups, aligning with its strategy to foster innovation and secure future growth.

This extensive investment plan underscores BPCL’s commitment to strengthening. Its core businesses while venturing into new, sustainable energy sectors to meet future demands.

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