(MENAFN- ForPressRelease) Bengaluru, 20th December 2023: Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 Company and a Maharatna Energy Conglomerate, proudly announces a groundbreaking initiative aimed at shaping a sustainable future. With an investment of Rs. 5,044 Crore, BPCL is set to establish a Polypropylene (PP) Unit at Kochi Refinery, responding to India's burgeoning demand for petrochemicals.
This visionary project leverages the abundant Propylene feedstock at Kochi Refinery, marking a significant milestone in reshaping the petrochemical industry landscape. The Polypropylene Unit, boasting a production capacity of 400 Kilo-Tonnes Per Annum, is strategically designed to meet market demands and reinforces BPCL's commitment to downstream industries.
Shri G Krishnakumar, C&MD, BPCL, shared "Our Rs. 5,044 Crore investment in the Kochi Refinery's Polypropylene Unit is part of our strategic commitment towards a sustainable future. Addressing India's petrochemical demand, this project will reshape the industry, meeting the requirements for Packaging Films, Containers and more."
Polypropylene, a versatile material, finds applications in Packaging Films, Sheets, Boxes, Containers, Bags, Home Ware, Home Care, Personal Care, and everyday articles. The project is slated for completion in approximately 46 months, signaling BPCL's dedication to driving innovation and meeting the evolving needs of the market.
This initiative builds upon BPCL's existing capabilities, with the operation of a Propylene Derivative Petrochemical Plant (PDPP) at Kochi Refinery. PDPP has been instrumental in producing critical import substitutes, including acrylic acid, acrylates, oxo-alcohol, and other niche petrochemicals. Notably, PDPP was dedicated to the nation by the Hon'ble Prime Minister Shri Narendra Modi in February 2021, underscoring BPCL's commitment to the vision of Atma Nirbhar Bharat.
As BPCL takes this momentous step towards a sustainable future, the company remains steadfast in its mission to contribute to India's economic growth, promote self-reliance, and advance the petrochemical industry. This endeavor aligns with the broader objectives of Atma Nirbhar Bharat, reflecting BPCL's commitment to driving positive change and fostering a resilient and self-sufficient nation.
About Bharat Petroleum Corporation Ltd. (BPCL):
Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the elite club of companies having greater operational & financial autonomy.
Bharat Petroleum's Refineries at Mumbai, Kochi and Bina Refinery have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, energy stations, aviation service stations and LPG distributors. Its distribution network comprises over 21,000 Energy Stations, over 6,200 LPG distributorships, 525 Lubes distributorships, and 123 POL storage locations, 53 LPG Bottling Plants, 70 Aviation Service Stations, 4 Lube blending plants and 4 cross-country pipelines as on 30.09.2023.
Bharat Petroleum is integrating its strategy, investments, environmental and social ambitions to move towards a sustainable planet. The company has chalked out the plan to offer electric vehicle charging stations at around 7000 energy stations over next 5 years.
With a focus on sustainable solutions, the company is developing a vibrant ecosystem and a road-map to become a Net Zero Energy Company by 2040, in Scope 1 and Scope 2 emissions. Bharat Petroleum has been partnering communities by supporting innumerable initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With 'Energising Lives' as its core purpose, Bharat Petroleum's vision is to be an admired global energy company leveraging talent, innovation & technology.
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