NEW DELHI: Bharat Petroleum Corporation Limited (BPCL) has announced plans to invest approximately $11 billion in a state-of-the-art refinery and petrochemical complex in Andhra Pradesh, aiming to address surging fuel demand in India, the world’s fastest-growing major economy.
“This is a significant opportunity for the refining sector as India’s primary energy demand is projected to grow three to four times with the expansion of its economy,” BPCL Chairman G. Krishnakumar stated in an interview with Reuters.
The facility will feature a 35% petrochemical intensity and is expected to cost between 900 to 950 billion rupees ($10.56-$11.14 billion). BPCL, which currently operates three refineries with a combined capacity of 35.3 million tons per year (tpy), also sources fuel from the 3 million tpy Numaligarh refinery in northeastern India.
Krishnakumar emphasized that 80% of the output from the new complex will cater to the fuel needs of southern India, underscoring its strategic importance in meeting regional energy demands.
