The Bharat Petroleum Corporation (BPCL) has resumed work on 2,118 projects involving a capital expenditure (capex) of around Rs 50,300 crore over three years.
Of the total estimated capital investment, Rs 9,597 crore is targeted for FY21, of which it has already spent Rs 1,650 crore.
The company in July 2020 had announced that it will cut down on its Rs 12,500 crore capex plan announced earlier due to the lockdowns and spend only Rs 8,000 crore. The new announcement increases the capex for FY21 by almost Rs 1,600 crore.
The company plans to complete 10 projects worth Rs 18,766 crore (both capex and operational expenditure) in FY21 and the two biggest of them are in Kochi, Kerala.
The two projects are Rs 5,246 crore propylene derivative petrochemical project (PDPP) in Kochi and the Rs 3,289 crore motor spirit block project (MSBP) at the Kochi Refinery, which is its largest refinery with 15 million tonne capacity.
All the projects barring the Rs 3,972 crore city gas distribution network in Ahmednagar and Aurangabad districts of Maharashtra will be completed over the next three years.
Another big-ticket project is the Rs 1,607 crore 2G bio-ethanol refinery at Bargarh in Odisha. The company is also working on the Rs 1,524 crore multi-product cross-country petroleum product pipeline from Bina to Panki in Kanpur. Another project worth Rs 1,507 crore Kochi-Salem LPG pipeline project where work has resumed.
Two of these projects are in Mumbai, Maharashtra -- Rs 640 crore expansion of the lube oil base stock (LOBS) and Rs 449 crore re-routing of Mumbai-Manmad pipeline, and Rs 283-crore petroleum terminal at Haveli in Pune and Rs 249 crore new petroleum depot at Bokaro in Jharkhand.
The 2,118 projects include refinery projects, petrochemicals, bio refineries, marketing infrastructure, pipelines, CGD, among others.
The company's capex and opex is around Rs 16,500 crore for FY21 which has potential to generate around 4.48 crore man-days of which around 1.34 crore man-days have already been generated as of 15 August 2020.