BPCL Approves Rs 5,044 Crore Polypropylene Project in Kochi

Bharat Petroleum Corporation (BPCL) has recently gained approval for a significant polypropylene (PP) project at its Kochi refinery in Kerala. In a meeting held on December 19, 2023, the company's Board of Directors greenlit an investment of Rs 5,044 crore dedicated to establishing the PP unit. This strategic move is aimed at addressing the growing petrochemical demand in the country.

The proposed polypropylene unit is designed to have an annual production capacity of 400,000 tons and is scheduled to be completed within approximately 46 months from the date of the investment approval. This initiative aligns with the company's commitment to advancing towards a sustainable future. The project aims to cater to the increasing demand for packaging films, containers, and various other applications.

The funding for the project will follow a 65:35 debt-equity ratio, showcasing the company's prudent financial approach. BPCL already operates a propylene derivative petrochemical plant (PDPP) at its Kochi refinery, contributing to the production of critical import substitutes such as acrylic acid, acrylates, oxo-alcohol, and other niche petrochemicals.

Polypropylene, a versatile polymer, finds applications in diverse segments including packaging films, sheets, boxes, containers, bags, homeware, and various day-to-day use articles. This project not only reinforces BPCL's commitment to meeting the evolving needs of the market but also positions the company strategically in the landscape of sustainable and innovative petrochemical solutions.

News by Rahul Yelligetti