BPCL Board Approves Three New Project Proposals

Maharatna Oil PSU BPCL has said in a regulatory filing that the board of the PSU has approved three new project proposals in the meeting, which was held in mid-May.

The board has approved proposals for projects including, the "Ethylene Cracker Project at Bina Refinery including downstream Petrochemical Plants, and expansion of the Refinery with capital expenditure of approximately Rs 490 billion, 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 a total project cost of approximately Rs 9.78 billion (Rs 4.89 billion for each project) and putting up Petroleum Oil Lubricants (POL) and Lube Oil Base Stock (LOBS) storage installations with receipt pipelines at Rasayani in Maharashtra with a project cost of approximately Rs 19.03 billion."

Further, the filing noted that "the progress and completion of the above projects would depend on various factors including clearances from statutory authorities if required."