January 6, 2022 [Fortune India] – Feasibility studies and other pre-project activities are underway to set up an ethylene cracker project at Bina Refinery and a polypropylene project at Kochi Refinery
Bharat Petroleum Corporation Ltd. (BPCL), one of India’s premier oil refining and marketing companies, is getting into petrochemicals in a big way. Feasibility studies and other pre-project activities are underway to set up an ethylene cracker project at Bina Refinery in Madhya Pradesh and a polypropylene project at Kochi Refinery in Kerala, says Arun Kumar Singh, chairman and managing director.
The projects are likely to take around four years for completion once the environmental clearance is received and are expected to come on stream by 2026. “Once commissioned, these will increase the share of petrochemicals in the company’s product portfolio from around 1% currently to about 8%, and there is good margins in this business,” he says.
The move is part of six strategic areas – petrochemicals, gas, renewables, new businesses, that is, consumer retailing, e-mobility and upstream – identified by the company to serve as pillars of future growth, as the world is going to have an energy transition from fossil fuels to renewable energy.
With the help of a leading consultant, a detailed roadmap is being laid out including critical milestones to be achieved at various stages in the journey. BPCL targets to achieve net-zero emissions by 2040 and is investing about ₹1.40 lakh crore for these energy transitions.
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