Published On:January 9 2014
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BPCL partners with Manali Petro for Rs. 3k-cr project.
Even though South Korean major LG Chemicals backed out of Bharat Petroleum Corporation Limited's (BPCL) Rs. 5,000-crore petrochemicals project in Kochi, the oil marketing company has found another partner in Chennai-based Manali Petrochemicals Limited (MPL) for another project in Kerala.
BPCL and MPL would set up a Rs. 3,000-crore polyurethane project in Kerala, said a senior official involved in the project. The capacity of the project would be increased to 3,50,000 tonnes. The original the plan was to set up a 250,000-3,00,000 tonnes capacity plant with a Rs. 2,500-3,000 crore investment.
'BPCL is in talks with MPL to float a joint venture in which a few foreign companies are expected to participate to set up the project. The project will be India's single-largest polyurethane (PU) manufacturing plant,' said the official.