BPCL plans Rs 1,500 billion capex for Project Aspire

Bharat Petroleum Corporation Limited (BPCL) has planned a capex 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 expand its renewable energy portfolio as it aims to achieve 2040 net-zero goals. Additionally, it has recently approved the ethylene cracker project at the Bina refinery with an investment of Rs 490 billion. The project involves expanding the refinery’s capacity from 7.8 mtpa to 11 mtpa. Additionally, it includes the setting up of an ethylene cracker and associated units, and ethylene and propylene-based petrochemical units for its diversification to petrochemicals in Madhya Pradesh.