Bharat Petroleum Corporation Ltd (BPCL) and LG Chem, South Korea, today signed a MoU to establish a petrochemical plant adjacent to BPCL’s Kochi refinery complex at an estimated investment of Rs 4,000-6,000 crore.
BPCL in a release said that it would be investing nearly Rs 14,000 crore over the next five years in expanding its Kochi refinery.
As part of this project, it would be establishing a petrochemical fluid catalytic cracker to generate 500 TMTPA of propylene. This would offer BPCL a launch pad for diversification into petrochemicals.
Completion of the project would be dovetailed into the refinery expansion project.