BPCL Sets Stage for Petrochemical Expansion Through Strategic MoUs
Bharat Petroleum Corporation Limited (BPCL) has signed memoranda of understanding with Oil India Limited, Numaligarh Refinery Limited, and Fertilisers & Chemicals Travancore Limited to explore collaborations in refining, petroleum product transportation, and green energy. Key projects include a large refining complex and a cross-country pipeline.
- Country:
- India
Bharat Petroleum Corporation Limited (BPCL) recently took significant steps to expand India's energy sector by signing three Memoranda of Understanding with Oil India Limited (OIL), Numaligarh Refinery Limited (NRL), and Fertilisers & Chemicals Travancore Limited (FACT).
The non-binding agreement with OIL aims to collaborate on the development of BPCL’s new Greenfield Refinery and Petrochemical Complex in Nellore district, Andhra Pradesh. With a refining capacity of up to 12 MMTPA and a projected investment of Rs 1 lakh crore, this facility is set to be crucial for India's downstream sector.
The collaboration could potentially see OIL taking a minority stake in the joint venture. BPCL, in partnership with OIL and NRL, is also set to build a 700-km pipeline from Siliguri to Mughalsarai. Additionally, BPCL and FACT will collaborate on green initiatives focusing on waste-to-energy projects.
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