Bharat Petroleum to invest ₹5,044 crore to set up polypropylene unit at Kochi refinery
Bharat Petroleum Corporation Ltd (BPCL), India’s leading oil and gas company, Wednesday said it has received the approval of a polypropylene unit project at its Kochi refinery in Kerala.
The proposed polypropylene unit will be constructed in about 46 months from the date of the investment approval and is designed to produce 400,000 tonnes per annum, the company said in a statement.
BPCL Chairman and Managing Director G Krishnakumar said, "Our ₹5,044 crore investment in the Kochi Refinery's polypropylene unit is part of our strategic commitment towards a sustainable future. Addressing India's petrochemical demand, this project will reshape the industry, meeting the requirements for packaging films, containers and more."
The project will be funded in 65:35 debt-equity ratio, Bharat Petroleum said in a separate stock exchange filing.
The company said it is already operating a Propylene Derivative Petrochemical Plant (PDPP) at Kochi Refinery, producing critical import substitutes, such as acrylic acid, acrylates, oxo-alcohol, and other niche petrochemicals.
Polypropylene has wide applications in downstream industries such as packaging films, sheets, boxes, containers, bags, homeware, home care, personal care, and articles of day-to-day usage.
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