Bharat Petroleum Corporation Plans to Invest Rs 1 Lakh Crore Towards Diversification

State-owned Bharat Petroleum Corporation Limited (BPCL), during which the federal government goals to promote its majority share through the present monetary yr, plans to pump in Rs 1 lakh crore through the subsequent 5 years by diversifying in clear gasoline, strengthening its petrochemical capability in addition to bolstering its fuel enterprise.

Speaking to media individuals, BPCL chairman A Ok Singh on Monday mentioned that the key funding will assist the corporate in firming up its future roadmap which could have house for each standard fuels in addition to the quick rising electrical autos phase.

BPCL may also look to covert better volumes of crude oil into petrochemicals, Mr Singh knowledgeable additional.

BPCL, which is the nation's second-biggest gasoline retailer and third-largest refiner, can be planning to arrange a 1,000 mw infrastructure for renewable energy era, primarily by way of acquisitions, the chairman mentioned.

Biofuels in addition to hydrogen manufacturing are additionally different key segments the place the corporate plans to spend money on the close to future.

Mr Singh mentioned that BPCL plans to convert round 7,000 of its petrol pumps into vitality stations by providing multi-purpose choices like refueling petrol, diesel, CNG and even charging amenities for electrical autos.

He mentioned that Rs 30,000 crore could be spent on bettering refining capacities and augmenting petrochemical capacities, whereas one other Rs 20,000 crore will probably be invested in fuel proliferation.

Apart from this Mr Singh mentioned that Rs 18,000 crore every will probably be spent on substantiating the gasoline advertising infrastructure and on upstream oil and fuel exploration and manufacturing actions.

BPCL additionally plans to pump in Rs 5,000 crore in renewable vitality sector and an extra Rs 7,000 crore in biofuels, the BPCL chairman additional mentioned.