Page 140 - CW E-Magazine (27-8-2024)

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FUTURE PLANS

BPCL plans to invest Rs 1.7 lakh-crore to grow

petchem, green and core businesses

State-owned Bharat Petroleum Rs. 1.70 lakh-crore over fi ve years, will will be operational at its Kochi refi nery
Corporation Ltd. (BPCL) plans to invest enable us to create long-term value in Kerala. “To meet the anticipated
Rs. 1.7 lakh-crore over the next fi ve for our stakeholders while preserving demand beyond our planned expansions
years to grow its core oil refi ning and our planet for future generations,” said in Bina and Kochi, we are actively
fuel marketing business as well as in Mr. Krishnakumar. evaluating options for setting up addi-
‘future big bets’ of petrochemicals and tional integrated refi ning and petro-
green energy, according to its Chairman, According to the company’s most chemical capacities within the next 5-7
Mr. G. Krishnakumar. recent annual report, ‘Project Aspire’, years,” Mr. Krishnakumar said without
a fi ve-year strategy framework built disclosing either the investments or the
BPCL currently owns about 14% of on the two key pillars of ‘Nurtur- location of such a project.
India’s oil refi ning capacity and about ing the Core’ and ‘Investing in Future
a quarter of the fuel retailing network. Big Bets’, is the fi rst part of the fi rm’s Further, the company is targeting
It plans to grow these businesses while multi-decade aspirational journey. net zero carbon emissions from its
entering into newer areas. operations by 2040. “BPCL has drawn
Towards growth and expansion a net-zero roadmap, which encompasses
“Our mid-term strategy is on a con- At two of its three oil refi neries, renewable power, green hydrogen,
tinuum. While we remain committed BPCL is putting new petrochemi- compressed biogas, carbon capture,
to growing our core businesses, which cal projects into operation. The Bina utilisation, and storage (CCUS),
include refi ning and marketing petroleum refi nery in Madhya Pradesh is build- effi ciency improvement and the offsets
products and upstream, we are equally ing an ethylene cracker project of procurements. This would require
focused on our big bets comprising Rs. 49,000-crore and plans to increase a phased capital outlay of approxi-
petrochemicals, gas, green energy, non- its yearly oil refi ning capacity from 7.8- mately Rs. 1 lakh-crore till 2040, and
fuel retail, and digital. ‘Project Aspire’, million tonnes to 11-million tonnes by the company is geared for the same,”
with a planned capex outlay of around 2029. By 2027, a polypropylene plant he said.

INCENTIVISING PRODUCTION

Govt. mulls ethanol price hike for 2024-25 to meet

blending goals

The government is considering a Mr. Amit Shah called for a multi- at Rs. 60.73 and Rs. 56.28 per litre,
proposal to increase ethanol prices for dimensional approach to biofuel manu- respectively.
the season starting November 2024, facturing and affi rmed that India
while also pushing for diversifi cation would achieve its 20% ethanol blending As per offi cial data, ethanol blend-
of feedstocks, as it aims to achieve the target by 2025-26, ahead of the original ing in India has reached 13.3% by July
20% blending target by 2025-26. A 2030 deadline. of the current season, up from 12.6%
committee headed by a joint secretary during the 2022-23 season.
from the petroleum ministry has already Ethanol prices, fi xed by the govern-
held one round of discussions on the ment, have remained unchanged The country’s total ethanol produc-
proposal. The revision of ethanol prices since the 2022-23 season (November- tion capacity currently stands at 1,589
will be based on the fair and remunera- October). Currently, ethanol produced crore litres, oil marketing companies
tive price of sugarcane, they added. from cane juice is priced at Rs. 65.61 purchased 505 crore litres of ethanol
per litre, while rates for ethanol from for blending purposes during 2023-24
Recently, Cooperation Minister B-Heavy and C-Heavy molasses stood season.

140 Chemical Weekly August 27, 2024

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