BPCL to invest Rs 5,044 cr to set up polypropylene unit at Kochi refinery; shares gain

The proposed capacity addition is 400 Kilo-Tonnes Per Annum (KTPA) of Polypropylene, which will take approximately 46 months from the date of investment approval.

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Shares of Bharat Petroleum Corporation (BPCL) saw a nearly 1% increase, reaching Rs 452.70 in early trade on December 20. This surge followed the company’s announcement of plans to establish a polypropylene unit at its Kochi refinery.

“…… company board at its meeting held on December 19, 2023 has approved a proposal for setting up polypropylene (PP) unit, for production of polypropylene at Kochi refinery, at gross project cost of Rs 5,044 crore,” the company said in a press release.

The proposed capacity addition is 400 Kilo-Tonnes Per Annum (KTPA) of Polypropylene, which will take approximately 46 months from the date of investment approval.

Considering the robust growth due to expanding market demand of the petrochemical segment in India and availability of Propylene feedstock provides BPCL Kochi Refinery (KR) opportunities for production of Polypropylene, which has wide applications in downstream industries such as packaging films, sheet, boxes, containers, bags, homeware, homecare, personal care and articles of day-to-day usage, the company added.

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On December 8, Tata Passenger Electric Mobility Ltd entered into a collaboration with Bharat Petroleum Corporation Ltd to set up 7,000 charging stations across India.

In November, the company declared an interim dividend of Rs 21 per equity share for its shareholders.

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