BPCL Invests in Pipelines, Targets Rs 15,000 Crore Capex

Bharat Petroleum Corporation (BPCL) has set it capital expenditure (capex) target for 2024-25 at Rs 15,000 crore. Further, it also aims to expand its market networks with new pipelines underway. It has approved two pipeline projects from Mumbai refineries.

The pipelines passing through Tamil Nadu and Karnataka and the other one through Andhra Pradesh and Telangana are under construction.

Pertaining to expansion plans, the oil marketing company will put up three new depots in the North-eastern part of the country and has acquired land for the same.

In 2023-24, the capex outlay was at Rs 10,000 crore, of which Rs 8,000 crore has been utilised till 31 December, 2024. The Board of BPCL had last year approved rights issues to raise up to Rs 18,000 crore, which is expected to be issued by the end of FY24.

News by Rahul Yelligetti