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BPCL is seeking a Rs 32,000 crore loan for refinery expansion and petrochemical projects.
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The loan will be used to increase refining capacity and enhance petrochemical integration.
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BPCL aims to achieve net zero carbon emissions by 2040.
Bharat Petroleum Corp (BPCL) is in talks with lenders to raise Rs 32,000 crore for its refinery expansion and petrochemical projects. The loan, led by State Bank of India, will be used to increase BPCL’s refining capacity and enhance petrochemical integration. This move is part of BPCL’s plan to meet growing energy demand in India.
BPCL plans to increase its refining capacity to 900,000 barrels per day and build two new petrochemical projects at its Kochi and Bina refineries. The company has allocated Rs 49,000 crore for refining capacity expansion and petrochemical integration. Additionally, BPCL aims to achieve net zero carbon emissions by 2040 through investments in renewable power, green hydrogen, and carbon capture utilisation.
The loan is expected to be priced around 8.4% and will have a tenure of 15 years. Other lenders, including Punjab National Bank, Bank of Baroda, and Bank of India, are also part of the loan. This loan will be one of the largest local-currency loans in India this year.
