Bharat Petroleum Corporation (BPCL) plans to spend about Rs 10,000 crore in 2016-17 to expand and upgrade its refining capacity and augment its marketing infrastructure.
An expansion underway at Kochi refinery will take about 40 per cent of the BPCL's planned capex for 2016-17. The refinery is adding 6 million tonne per annum (MTPA) to the existing capacity of 9.5 MTPA. BPCL's total capacity is about 27.5 million tonne.
Another Rs 1,000 crore would go towards upgrading other refineries to help them produce higher grade fuels that meet Euro IV and VI emission norms.
About Rs 1,000 crore would be utilised by the company's upstream business managed by Bharat Petroresources.
The balance funds would be deployed in building a petrochemicals unit, pipelines, marketing terminals and depots, and procuring cooking gas cylinders.