Bharat Petroleum Plans INR 1.7 Lakh Crore Investment In Core & Emerging Sectors

Abhijeet Singh
20 Aug 2024
01:19 PM
1 Min Read

The investment is designed to expand BPCL’s core businesses, including oil refining and fuel marketing, while also positioning the company in new sectors such as petrochemicals and green energy.


Bharat Petroleum Plans INR 1.7 Lakh Crore Investment mobility outlook

Bharat Petroleum Corporation Limited (BPCL) is embarking on a transformative journey with an ambitious plan to invest INR 1.7 lakh crore over the next five years. BPCL’s strategy is closely aligned with India’s growing energy demands and the global shift towards more sustainable energy solutions.

BPCL currently holds a significant share in India’s energy sector, with 14% of the country’s oil refining capacity and 25% of the fuel retailing network. The company’s infrastructure provides a solid foundation for its expansion plans, which are driven by the growing demand for energy in India. To manage this expansion, BPCL has launched 'Project Aspire,' a strategic framework that outlines the company’s growth over the next five years, focusing on both nurturing its existing core businesses and investing in future growth areas.

The company's strategy is structured around two main pillars: 'Nurturing the Core' and 'Investing in Future Big Bets.' The first pillar focuses on strengthening BPCL’s refining, marketing, and upstream petroleum products. The second pillar targets growth in new sectors, including petrochemicals, gas, green energy, non-fuel retail, and digital ventures. This dual approach is designed to ensure that BPCL remains competitive in both traditional and emerging markets.

BPCL is making significant investments in petrochemicals, with two major projects at its Bina and Kochi refineries. A new ethylene cracker project at the Bina refinery, with a projected investment of INR 49,000 crore, will increase the refinery’s capacity from 7.8 million tonnes to 11 million tonnes by 2029. Similarly, a polypropylene project at the Kochi refinery is expected to be completed by 2027. These projects are part of BPCL’s broader strategy to increase its presence in the petrochemical sector, which is expected to see robust demand growth in the coming years.

In addition to petrochemicals, BPCL is making strides towards achieving net zero carbon emissions by 2040. The company has committed INR 1 lakh crore to this goal, which includes developing renewable energy capacity and implementing green hydrogen projects. BPCL aims to build 2 GW of renewable energy capacity by 2025 and 10 GW by 2035. The company is also investing in wind and solar power projects, including a 72 MWp solar project and two 50 MW wind power plants, with a combined investment of INR 1,300 crore.

BPCL’s green energy initiatives extend to its efforts in biofuels and electric vehicle (EV) infrastructure. The company is expanding its network of compressed biogas plants and has already installed over 3,000 EV charging stations across India. By 2029, BPCL plans to install fast chargers at 6,000 retail outlets along 400 highway corridors, further supporting India’s transition to electric mobility.

Also Read

BPCL & Bounce Infinity Join Forces To Launch 'eDrive Stores'

Share This Page