BPCL plans Rs 900 cr investment in Eastern India in next five years

Domestic oil marketing major, Bharat Petroleum Corp Ltd (BPCL), has planned an investment of Rs 7,500 crore during the Tenth Five-Year Plan ...

Domestic oil marketing major, Bharat Petroleum Corp Ltd (BPCL), has planned an investment of Rs 7,500 crore during the Tenth Five-Year Plan period.

The investment will be in upgradation and expansion of refinery capacity, strengthening of the outlet networks, and LPG business, the Chairman & Managing Director of BPCL, S Behuria, said.

About 12 per cent of this investment, which would be in the region of Rs 800 to Rs 900 crore, would be in the eastern region of the country. He said that Orissa will get investment to the tune of Rs 150 crore during the five year plan period.

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The BPCL chief, who was here on Sunday to launch the company’s new generation high performance petrol “Speed”, said that a major pipeline project is coming up for product distribution in Orissa and Jharkhand.

The Paradip-Ranchi pipeline would touch Jatni and Rourkela in Orissa. The Rs 500 crore project would be commissioned by Petronet, a joint venture company floated by oil companies.

Stating that the project is at a preliminary stage, Behuria said the feasibility report has been prepared but necessary clearance from government on land acquisition and forest and environment clearance will take time. The project will take about 18 to 20 months time for completion but since land acquisition and other administrative clearance is time consuming process, it may take about 30 months, he added. On the infrastructure development planned by the company in the state, BPCL chief said new oil depot will be set up in Balasore and Rourkela. The company is looking for suitable land in Rourklela. He said that Sambalpur depot will be shifted to Hirakud.

According to its new highway strategy, the company is planning to put up more number of outlets on the National Highways.