Bharat Petroleum Corporation Ltd approves setting up of new Polypropylene unit

The Board of directors of Bharat Petroleum Corporation Limited at its meeting held on 19th December, 2023 has approved a proposal for setting up Polypropylene (PP) Unit, for production of 400 Kilo-Tonnes Per Annum Polypropylene at Kochi Refinery, at gross project cost of Rs. 5044 crore.

Considering the robust growth due to expanding market demand of the petrochemical segment in India and availability of Propylene feedstock provides BPCL Kochi Refinery (KR) opportunities for production of Polypropylene, which has wide applications in downstream industries such as Packaging Films, Sheet, Boxes, Containers, Bags, Home Ware, Home Care, Personal Care and articles of day-to-day usage.

The funds will be deployed in Debt-Equity ratio of 65:35.

Shares of Bharat Petroleum Corporation Limited was last trading in BSE at Rs. 449.20 as compared to the previous close of Rs. 446.90. The total number of shares traded during the day was 125867 in over 2300 trades.

The stock hit an intraday high of Rs. 451.25 and intraday low of 445.35. The net turnover during the day was Rs. 56482352.00.

Source : Equity Bulls

Keywords

BharatPetroleumCorporation INE029A01011 BPCL PolypropyleneUnit KochiRefinery