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BPCL lines up Rs.7400 cr capex for FY 2018-19

Thursday, September 13, 2018

BPCL will invest around Rs 7,400 crore towards capital expenditure this fiscal year, of which around Rs 5,300 crore will be managed through internal accruals and the rest will be debt, said D Rajkumar, Chairman and Managing Director, BPCL at the post AGM press meet on Tuesday.

Most of the capex will go into the upcoming petchem facility in Kochi as it will be focusing big on the petrochemicals sector going forward. The next focus area will be LNG and with the latest auctions, the company will have licences for 25 cities, up from the existing 14 cities, Rajkumar added.

The company, which had a string of fire accidents this year at all its facilities, including the recent blasts at its flagship refinery in Mumbai, is planning to shift the LPG facility out of the city to the nearby Rasayani, as part of its efforts to strengthen safety measures.

The second largest state-run refiner and oil marketer is also planning similar options for its other refineries in Kochi, and its joint venture refineries at Numaligarh in Assam and Bina in Madhya Pradesh as well

The relocation of the LPG facility from the Mumbai refinery complex to Rasayani, which is around 60 km off the eastern waterfront, will be completed in the next two years, Rajkumar said, adding this will help cut down truck movement near the refinery by as much as 43%.

BPCL's director for refineries, R Ramachandran, said the Rasayani facility over the years will attract Rs 36,000-38,000 crore of investments over the next few years as the company is also planning a petchem facility there.

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