BPCL Approves ₹142 Billion Refinery Upgrade

Bharat Petroleum Corporation Ltd (BPCL) has approved a ₹142 billion investment to replace catalytic cracking units at its Mumbai refinery with a petro resid fluidised catalytic cracking unit.

The board also approved an investment in Tikitar and Shell India Pvt. Ltd., a joint venture to manufacture and market value-added bitumen. The investment awaits regulatory clearance from the Department of Investment and Public Asset Management.