State-run oil refiner Bharat Petroleum Corporation (BPCL) is all set to
start work on the petrochemicals complex in Kochi with all green
clearances in place and securing a Rs.4,000-crore loan commitment from
State Bank of India.
“We have all the permissions in place from the Environmental Ministry
and other regulatory authorities for the Rs.5,000-crore petrochemicals
complex in Kochi. We hope to resume work and complete it as per schedule
in 2018,” BPCL Chairman and Managing Director S. Varadarajan has said.
The Rs.5,000-crore Kochi petrochemiclas project, announced in December
2011 as part of a Rs.20,000-crore expansion of the Kochi Refinery, will
help the country end its dependence on imports of speciality propylene
derivatives-based products such as acrylic acids and acrylates used in
plastics, paints, coatings, adhesives, inks and textiles
The Kochi refinery currently produces petrochemical feed stocks such as
benzene, toluene and propylene. Post-expansion and technology upgrade,
it will be able to process Euro-V petrol and diesel.
Kochi petchem project is part of the Rs. one lakh crore planned capex under Project Sankalp for the next
five years, out of which Rs.40,000 crore will be spent on refining capacity addition
alone.
Note
BPCL currently has four refineries — in Mumbai, Kochi, Bina in Madhya Pradesh and Numaligarh in Assam.
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