India’s BPCL Plans to Set up New Refinery with Approximately $6bn Investment
06.11.2024 By Tank Terminals - NEWS

June 11, 2024 [Offshore Technology]- India’s Bharat Petroleum Corporation (BPCL) is planning to construct a new refinery with an investment of approximately Rs500bn ($5.99bn), reported the Economic Times, citing sources.

 

The state-run enterprise is evaluating potential locations in Andhra Pradesh, Uttar Pradesh and Gujarat for the facility, which is expected to have a capacity of 12mtpa.

“BPCL is planning another refinery either on the east coast or on the west coast as India needs more refineries to meet the increasing fuel demand,” one of the sources was quoted by the publication as saying.

Talks are at an initial stage, according to the source, who also mentioned that BPCL could also consider Uttar Pradesh as the potential location.

This move aligns with BPCL’s strategy to expand its refining capacity to 45mtpa by the financial year 2029.

 

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