Mumbai, December 21, 2023: Bharat Petroleum Corporation Limited (BPCL), a renowned Fortune Global 500 Company and a Maharatna Energy Conglomerate, has proudly unveiled a significant initiative, marking a major step towards a sustainable future. With an ambitious investment of ₹5,044 Crore, BPCL is gearing up to establish a state-of-the-art Polypropylene (PP) Unit at its Kochi Refinery, aimed at addressing the rising demand for petrochemicals in India.

Project Overview:

The upcoming Polypropylene Unit, with a planned production capacity of 400,000 tonnes per annum, represents BPCL's strategic response to India's expanding petrochemical needs. This project, beyond being a reflection of BPCL's innovative ethos, is a dedicated effort to fulfill market demands across sectors like packaging, home care, and personal care. With a completion target of about 46 months from the date of investment approval, the unit signifies a critical advancement in transforming the petrochemical industry's landscape.

Financials and Structure:

BPCL has transparently stated that the project will be financed through a 65:35 debt-equity ratio. This financial strategy underscores the company's balanced approach to investment and its confidence in the project's successful outcome.

Management's Vision:

Shri G Krishnakumar, Chairman and Managing Director of BPCL, stated, "Our ₹5,044 crore investment in the Kochi Refinery's Polypropylene Unit underscores our strategic commitment to a sustainable future. This project is poised to redefine the industry by catering to India's escalating petrochemical demands, especially in areas such as Packaging Films and Containers."

The project marks a significant leap in BPCL's journey to enhance its downstream capabilities. Utilizing the abundant Propylene feedstock at the Kochi Refinery, the Polypropylene Unit is designed for efficiency and sustainability. Moreover, the initiative is in harmony with the overarching goals of Atma Nirbhar Bharat, reflecting BPCL's commitment to fostering a resilient and self-reliant India.

Complementary Facilities and Contributions:

In line with this initiative, BPCL's existing Propylene Derivative Petrochemical Plant (PDPP) at the Kochi Refinery has played a pivotal role in producing vital import substitutes, such as acrylic acid, acrylates, oxo-alcohol, and other niche petrochemicals. Inaugurated by Hon'ble Prime Minister Shri Narendra Modi in February 2021, the PDPP is a symbol of BPCL's continued efforts towards self-reliance and national economic growth.

BPCL's investment is more than a business venture; it reflects the company's deep commitment to India's economic and environmental future. As BPCL advances with this project, it establishes a new standard in the petrochemical industry, heralding a future that is both prosperous and sustainable.