Bharat Petroleum to invest Rs 1 trillion to become future-ready
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) plans to invest over Rs 1 lakh crore (Rs 1 trillion) over the next five years in raising petrochemical production capacity, gas business, clean fuel and augmenting marketing infrastructure, its chairman Arun Kumar Singh said on Monday.
The investment will help BPCL prepare for the future where conventional fuels and zero-carbon mobility in form of electric vehicles (EVs) and hydrogen will co-exist, while giving it the option to convert a greater degree of crude oil directly into high-value petrochemicals.
India’s second-largest fuel retailer is looking to create a 1,000 MW portfolio of renewable power generation capacity, mostly through acquisitions while also invest in biofuels and hydrogen, he told reporters.
