Mumbai: Bharat Petroleum Corporation Limited (BPCL) has unveiled its ambitious roadmap for the next five years.
“The company has planned a capex outlay of around Rs 1.5 lakh crore in the next five years,” informed BPCL’s Chairman & Managing Director G Krishnakumar. “We are introducing the ‘Project Aspire’ strategy built on eight pivotal pillars,” he added.
These 8 pillars are clubbed under two main themes: ‘Nurturing the Core’ and ‘Future Big Bets.’ ‘Nurturing the Core’ has three foundational pillars: Refining, Marketing and Upstream. ‘ while Future Big Bets’ is anchored on five key areas: Gas, Non-fuel Retailing, Petrochemicals, Green Energy Businesses, and Digital Ventures.
“This aspiration is our roadmap to the future, and together, we will journey through this transformative era,” asserted Krishnakumar.
BPCL has recently approved an Ethylene Cracker Project at Bina. With an investment of Rs 49,000 crores, this project marks a historic milestone as the single largest investment in Bharat Petroleum Corporation Limited BPCL’s history. In turn this project is securing BPCL’s markets in Northern and Central India.
With an aim to expand its infrastructure network, Bharat Petroleum Corporation Limited (BPCL) plans POL (Petroleum Oil & Lubricants) and LOBS (Lube Oil Base Stock) installations, along with receipt pipelines at Rasayani, with investments of approximately Rs 2,753 crore.
The company is also expanding its CGD networks across 25 Geographical Areas covering 62 districts in the country.
It has drawn up a net-zero roadmap which encompasses the Green Energy Businesses, Carbon Capture, Utilization, and Storage (CCUS), efficiency improvement, and the offset procurements. This would require an estimated phased capital outlay of approximately Rs 1 lakh crore till 2040.
In E-Mobility, Bharat Petroleum Corporation Limited (BPCL) plans to provide electric vehicle charging facilities at 7,000 energy stations in the next five years. Some highways are already equipped with BPCL’s Rapid Charging EV Corridors.
In the Biofuel space, BPCL plans to increase the blending to 12 percent in FY 2023-24 and endeavors to reach 20 percent blending by 2025. BPCL is also setting up an integrated 2G + 1G Ethanol Bio-refinery at Bargarh, Odisha which is scheduled for completion by March 2024.
In the renewables space, BPCL aspires to build 1 GW of renewable energy capacity by 2025 and 10 GW by 2040, through both organic and as well as inorganic routes. BPCL will be investing approximately Rs 1,000 crore to set up two 50MW captive wind power plants in Maharashtra and Madhya Pradesh to support the refineries in Mumbai and Bina.
BPCL is also setting up a Green Hydrogen Plant at the Bina Refinery to meet the hydrogen requirements of the refinery
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