BPCL to invest 50k cr for refinery expansion

The country's second biggest oil refiner has lined up investments of Rs 50,000 crore ($11 billion) to expand its capacities in refining, retail and upstream projects over the next five years. Besides, in preparation of impending oil deregulation.

About Rs 30,000 crore will be spent on infrastructure projects like expanding refining capacities, storages and pipeline. Another Rs 10,000 crore will be spent on development of upstream projects. BPCL aims to add another 10 metric million tones of capacities to three of its refineries to take its total refining capacity to 40 million tonne.

BPCL with a debt of Rs 26,000 crore plans to raise another Rs 25,000 crore to fund its expansion plans.