BPCL plans Rs 1,500 billion capex for Project Aspire

Bharat Petroleum Corporation Limited (BPCL) has planned a capital expenditure of Rs 1,500 billion over a period of five years towards its transformative initiative, Project Aspire. As part of this project, along with growing its oil business, BPCL will also expand its renewable energy portfolio as it aims for 2040 net zero goal. The capex outlay will enable BPCL to create long term value for its stakeholders along with preserving the planet for future generations. Besides, it has recently approved the ethylene cracker project at Bina refinery at an investment of Rs 490 billion. The project involves capacity expansion of Bina refinery from 7.8 mtpa to 11 mtpa along with setting up ethylene cracker and associated units and ethylene and propylene based petrochemical units for its diversification to petrochemicals in the state of Madhya Pradesh. Moreover, it plans to set up petroleum, oil and lubricants and lube oil based stock installations along with receipt pipelines at Rasayani to debottleneck the evacuations of products from Mumbai refinery and ensure seamless supplies. It will entail an investment of Rs 27.53 billion. BPCL is also expanding its city gas distribution (CGD) network across its 25 geographical areas covering 62 districts across the country.