BPCL approves investment proposal for expansion projects

The Board of directors of Bharat Petroleum Corporation Limited at its meeting held on 15.5.2023 has approved the following proposals:

1. Ethylene Cracker Project at Bina Refinery including downstream Petrochemical Plants and expansion of Refinery with capital expenditure of approx. Rs 49,000 crore.

2. Setting up two 50 MW Wind power plants for captive consumption one at Bina Refinery in Madhya Pradesh and another at Mumbai Refinery in Maharashtra, with total project cost of approx. Rs.978 crore (Rs 489 crore for each project)

3. Putting up Petroleum Oil Lubricants (POL) and Lube Oil Base Stock (LOBS) storage installations with receipt pipelines at Rasayani in Maharashtra with project cost of approx. Rs. 1903 crore.

The progress and completion of the above projects would depend on various factors including clearances from statutory authorities, if required.

Shares of Bharat Petroleum Corporation Limited was last trading in BSE at Rs. 357.00 as compared to the previous close of Rs. 361.85. The total number of shares traded during the day was 64423 in over 2119 trades.

The stock hit an intraday high of Rs. 363.95 and intraday low of 356.45. The net turnover during the day was Rs. 23156635.00.

Source : Equity Bulls

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BharatPetroleumCorporation INE029A01011 BPCL InvestmentProposal ExpansionProjects