BPCL resumes work on over 2,100 projects worth ₹50,300 cr capex

MUMBAI : Divestment-bound national oil marketer Bharat Petroleum Corporation has resumed work on as many as 2,118 projects involving a capital expenditure (capex) of around ₹50,300 crore over three years. Of the total estimated capital investment, ₹9,597 crore is targeted for the current fiscal, of which it has already spent ₹1,650 crore, the second largest oil marketing company said on Wednesday.

The company had last month said it would cut down on its ₹12,500 crore capex plan announced earlier this year due to the lockdowns and would spend only ₹8,000 crore. The new announcement increases the capex for the current fiscal by almost ₹1,600 crore.

The company plans to complete 10 projects worth ₹18,766 crore (both capex and operational expenditure) in this fiscal and the biggest two of them are in Kochi.