Bharat Petroleum Corporation Ltd (BPCL), India’s prominent oil and gas company, announced on Wednesday that it has secured approval for a polypropylene unit project at its Kochi refinery in Kerala. The company’s board of directors, in a meeting held on December 19, 2023, greenlit an investment of INR 5,044 crore for the establishment of a polypropylene production unit at the Kochi refinery. This initiative aims to address the growing petrochemical demand in the country.
“We wish to inform you that the Board at its meeting held on 19th December 2023 has approved a proposal for setting up a Polypropylene (PP) Unit, for production of Polypropylene at Kochi Refinery, at a gross project cost of INR 5,044 crore,” Bharat Petroleum said in a regulatory filing.
The planned polypropylene unit is scheduled for construction over approximately 46 months from the date of investment approval. The company also stated that the unit is designed to have an annual production capacity of 400,000 tonnes.
“Our INR 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,” stated G Krishnakumar, Chairman and Managing Director, BPCL.
The company said it is already operating a Propylene Derivative Petrochemical Plant (PDPP) at Kochi Refinery, producing critical import substitutes, such as acrylic acid, acrylates, oxo-alcohol, and other niche petrochemicals.
On December 8, Tata Passenger Electric Mobility Ltd entered into a collaboration with Bharat Petroleum Corporation Ltd to set up 7,000 charging stations across India.
