Bharat Petroleum to invest Rs 40,000 cr in new petrochemicals plant

BPCL (Bharat Petroleum Corporation Limited) has decided to set up a Rs 40,000-crore petrochemicals plant at Rasayani in Raigad District of Maharashtra.

The State-run company is planning to set up this facility to manufacture polypropylene (PP) and polyethylene.

Also, the oil firm is planning to shift its LPG bottling plant, storage facilities and bitumen plant to Rasayani, 60 km away from its Mumbai plant.

BPCL refineries in Mumbai and Kochi reported couple of fire incidents in the past. The relocation would de-risk the refinery and reduce the movement of LPG tankers around the Mumbai city area by 43 per cent.

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