Covid-19 lockdown impact: BPCL to slash capex by 36% for FY20-21
MUMBAI: State-run Bharat Petroleum Corporation Ltd (BPCL) will cut its capital expenditure for this next fiscal by 36% or ₹4,500 crore.
“We have categorised our projects into minor and major projects. Any project which has an investment of less than ₹150 crore is minor project and put on hold,” said Vijayagopal N, director finance at BPCL.
He said this was a conscious decision as the board does not want to burden the company in current difficult times with a huge capex impacting borrowing and debt equity ratio.
