Kochi: Bharat Petroleum Corporation Ltd (BPCL) announced an investment of Rs 5,044 crore to establish a polypropylene production unit at its Kochi refinery in Kerala to meet the growing petrochemical demand.
The state-owned company aims to construct the 400,000 tonnes per annum polypropylene unit within 46 months from the date of investment approval, according to a company statement.
Polypropylene has many applications in downstream industries such as packaging films, sheets, homeware, home care, personal care, boxes, containers, bags, and everyday items.
G Krishnakumar, Chairman and Managing Director of BPCL, said, “Our Rs 5,044 crore investment in the Kochi Refinery’s polypropylene unit is part of our strategic commitment towards a sustainable future.”
This new project builds upon BPCL’s existing capabilities, including the operation of a Propylene Derivative Petrochemical Plant (PDPP) at the Kochi refinery. The funding structure for the project is set at a 65:35 debt-equity ratio, as confirmed by BPCL in a separate stock exchange filing. The company’s board of directors approved the polypropylene unit in a recent meeting.
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