BPCL to invest Rs. 4,800 crore in petrochem venture.

Bharat Petroleum Corporation will invest Rs. 4,800 crore in the propylene derivative petrochemical project in Kochi, which was earlier planned as a joint venture.

Environmental clearance for the project is expected in about a couple of months. .

BPCL has identified six technology partners for the project. They will be chosen after the clearance is through, said the executive director of BPCL's Kochi refinery Prasad K. Panicker at a press conference recently.

He said that the BPCL Board had already given its approval for the investment subject to environmental approval. A public hearing on the project was completed on December 23 at which Additional District Magistrate B. Ramachandran presided.

The cost of the integrated refinery expansion and petrochemical project is Rs. 25,000 crore and is the single largest investment in Kerala.

Mr. Panicker said that propylene for the project will be from the expanded refinery. The capacity of the refinery is being raised from 9.5 million tonnes a year to 15.5 million tonnes.



THE HINDU