Bharat Petroleum Corporation Ltd (BPCL) has decided to invest about Rs 25,000 crore to set up an ethylene cracker plant at Rasayani, located 50 kilometres from its Mumbai refinery.
A decision in this regard has been taken by the State-run company, as the firm pushes further into the petrochemicals business to fuel growth.
According to D Rajkumar, BPCL’s Chairman and Managing Director, “We are now thinking of diversifying more into petrochemicals. Our plan is to move from 1 per cent to 10 per cent and, if possible, go up to 15 per cent.”
He added: “This is what the existing configuration of our refineries will allow us. The existing configuration cannot be tweaked to a large extent to achieve higher percentage of petrochemicals unlike a new refinery.”
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