Bharat Petroleum Corporation Ltd (BPCL) is exploring setting up an oil refining and petrochemical complex over the next 5-7 years as it steps up capacity to meet India's rising energy demand, chairman G Krishnakumar told shareholders on Friday.
BPCL, which lost one of its four oil refineries to Oil India Ltd in the aborted privatisation plan, has lined up Rs 1.7 lakh crore of investment for expanding its core oil refining and fuel retailing business as well as in new energy ventures.
"To meet the anticipated demand beyond our planned expansions in Bina and Kochi (refineries), we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," he said.
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