BPCL board approves proposal for Kochi refinery polypropylene plant

In a notable development, Bharat Petroleum Corporation Limited’s (BPCL) board has approved the proposal for setting up the polypropylene (PP) plant at Kochi refinery entailing an investment of Rs 50.44 billion. The plant is likely to be set up in 46 months from the date of investment approval. Besides, the plant is likely to be financed by a combination of 65 per cent debt and 35 per cent equity. BPCL is planning to set up a PP unit at Kochi Refinery in the state of Kerala with production capacity of 400 kilo tonnes per annum.