Bharat Petroleum Corporation (BPCL) will make an investment of Rs 1.4 lakh crore in petrochemicals, city gas and clean energy in the next five years.
The company has firmed up plans to diversify and expand in adjacent and alternative businesses to create additional revenue streams and provide a hedge against any possible future decline in liquid fossil-fuel business.
Six strategic areas have been identified as pillars of future growth and sustainability. These are petrochemicals, gas, renewables, new businesses (consumer retailing), e-mobility and upstream, while the core businesses of refining and marketing of petroleum products continue to serve as a solid foundation, providing stability and consistent cash flows.
It has laid out a detailed roadmap under each of these strategic areas, and has planned a capex outlay of around Rs 1.4 lakh crore for the next five years. It will set up petchem projects at its oil refineries at Bina and Kochi.
The company has identified two new refinery-integrated petrochemical projects – 1.2 million tpa ethylene cracker unit at Bina refinery and 0.4 million tonne polypropylene unit at Kochi refinery.
The company has formed a business unit for expanding the consumer retailing business more vigorously and in newer ways, with an initial focus on small towns and rural areas.
On the upstream front, Bharat Petro-Resources (BPRL), its wholly-owned upstream subsidiary, is pursuing oil and gas development projects from Brazil to Mozambique.
