Bharat Petroleum's Costliest Refinery Venture in Andhra Pradesh

Bharat Petroleum Corporation Ltd (BPCL) plans to build India's most expensive oil refinery-cum-petrochemical complex in Andhra Pradesh, estimated at Rs 95,000 crore. The project will process 9 million tonnes annually and is expected to be commissioned within four years. It's part of India's strategy to meet increasing fuel demand.

Bharat Petroleum Corporation Ltd (BPCL) is set to develop India's most expensive oil refinery-cum-petrochemical complex in Andhra Pradesh, estimated to cost around Rs 95,000 crore, according to Director (Finance) Vetsa Ramakrishna Gupta.

This ambitious project is poised to become India's priciest refinery yet, with plans to commission it within 48 months from the final investment decision. It is a strategic move to cater to India's growing fuel demand, expected to increase by 4-5% annually.

The proposed refinery will have a capacity of 9 million tonnes per year, producing essential fuels and petrochemicals. This initiative is part of BPCL's broader investment plan of Rs 1.7 lakh crore to expand oil refining and ventures in new energy sectors.

(With inputs from agencies.)