|Even though South Korean major LG Chemicals backed out of Bharat Petroleum Corporation Limited's (BPCL) Rs. 5,000-crore petrochemicals project in Kochi, the oil marketing company has found another partner in Chennai-based Manali Petrochemicals Limited (MPL) for another project in Kerala.|
BPCL and MPL would set up a Rs. 3,000-crore polyurethane project in Kerala, said a senior official involved in the project. The capacity of the project would be increased to 3,50,000 tonnes. The original the plan was to set up a 250,000-3,00,000 tonnes capacity plant with a Rs. 2,500-3,000 crore investment.
"BPCL is in talks with MPL to float a joint venture in which a few foreign companies are expected to participate to set up the project. The project will be India's single-largest polyurethane (PU) manufacturing plant," said the official.