Bharat Petroleum Corporation Ltd (BPCL), a state-owned entity, has outlined a bold investment strategy, committing Rs 1.7 lakh crore over the next five years to expand across petrochemicals, green energy, gasoline marketing, and oil refining. This ambitious plan, dubbed ‘Project Aspire,’ is centered on two strategic pillars: reinforcing its core operations in refining and marketing, while also betting on future growth in emerging sectors such as green energy, digital initiatives, and petrochemicals.

BPCL is undertaking substantial petrochemical projects at two of its three oil refineries. A major highlight is the Rs 49,000 crore investment in an ethylene cracker project at the Bina refinery, Madhya Pradesh, which will increase refining capacity from 7.8 million tonnes to 11 million tonnes by 2029. Similarly, a polypropylene project at the Kochi refinery in Kerala is slated for completion by 2027.

In green energy, BPCL aims to develop 2 GW of renewable capacity by 2025 and 10 GW by 2035, through ventures like wind and solar power projects. The company is also focused on electric vehicle infrastructure, planning to deploy fast chargers at 6,000 retail outlets along 400 highway corridors. Already, BPCL has installed over 3,000 EV charging stations.

Further solidifying its clean energy transition, BPCL is executing green hydrogen projects, including a 5 MW electrolyzer at the Bina refinery, and expanding its biofuel offerings. This comprehensive approach underscores BPCL’s commitment to sustainability and innovation while maintaining its dominance in the traditional oil and gas sectors.