Bharat Petroleum Corporation Ltd (BPCL) plans to spend about ₹16,500 crore as capital (Capex) and employment oriented operational expenses (Opex) by March 2021.

The state-run oil refining and marketing firm said that planned expenditure has potential to generate employment of around 4.48 crore man-days (direct/indirect).

Till August 15, direct/indirect employment of around 1.34 crore man-days have been generated.

“The total amount spent would create a virtuous cycle of investments and play a crucial role in the revival of Indian economy and also provide employment opportunities,” the company said in a statement.

In April this year, BPCL said it has progressively resumed projects with an anticipated cost of around ₹50,300 crore after maintaining all pandemic related standard operating procedures.

Of the total anticipated cost of these projects, about ₹9,597 crore is targeted to be incurred as CAPEX in FY21. Till August 15, around ₹1,650 crore worth of Capex has already been incurred while around ₹380 crore pay-out has been spent on labour account, it said.

In FY21, BPCL also planned an employment oriented Opex of around ₹6,900 crore, out of which ₹2,100 crore has already been spent. The OPEX of ₹6,900 crore has the potential to generate around 2.79 crore man-days (direct/indirect).

Till August 15, direct/indirect employment of around 97.8 lakh man-days have been generated through Opex, it added.

BPCL has turned 'crisis into opportunity' and is striving to work on mission mode to generate employment and revive growth. The projects of BPCL and its JV/subsidiaries include refinery projects, petrochemicals, bio-refineries, marketing infrastructure projects, pipelines, city gas distribution projects, among others.

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