Bharat Petroleum Corp (BPCL) is looking to invest as much as ₹95,000 crore to build its next greenfield oil refinery and petrochemical complex near the Ramayapatnam Port in Andhra Pradesh, seeking to slake India’s burgeoning energy thirst.
“Recognising the strong growth potential of India, BPCL is evaluating setting up a greenfield refinery-cum-petrochemical complex near Ramayapatnam Port in Andhra Pradesh. Pre-project activities are underway,” said BPCL chairman and managing director Sanjay Khanna said Monday at the state-owned firm’s AGM.
The proposed facility will have an annual capacity to refine 9 million tonnes of crude oil, besides housing a petchem complex. “This strategic investment will further expand BPCL’s petrochemical portfolio, provide a natural hedge against petroleum products in the long run, and align with India’s vision of becoming a global refining and petrochemical hub,” Khanna said.
BPCL has taken up ‘Project Aspire’ to meet the future needs by strengthening its core in refining, marketing, and upstream with sharper execution, while boldly advancing into petrochemicals, renewables, green hydrogen, biofuels, and gas, he said.
During the year, BPCL’s marketing performance remained strong, with retail sales volumes rising 2.6% to 33.5 MMT. Petrol sales grew 6.4% to 10.7 MMT, while diesel sales remained broadly flat.
