business

BPCL to invest ₹1.70 lakh crore under Project Aspire: CMD

On Aug 31, 2024 By The Hindu Bureau

Bharat Petroleum Corporation Ltd. (BPCL has a total planned capex of ₹1.70 lakh crore under Project Aspire- a five year strategic framework- said its Chairman & Managing Director G. Krishnakumar told shareholders at the company’s Annual General Meeting (AGM).

This includes ₹75,000 crore for Refineries and Petrochemicals business, ₹10,000 crore for Green Energy, ₹20,000 crore for Marketing expansion, ₹25,000 crore for City Gas Distribution (CGD)/ Gas business, and ₹32,000 crore for Upstream.

He said the company had plans to expand its network of fuel stations, including EV charging stations, across the country. It is focused on increasing its renewable energy capacity and exploring opportunities in green hydrogen, biofuels, and compressed biogas, he added.

The CMD said the company has planned a phased investment of ₹1 lakh crore to achieve net-zero emissions by 2040 focusing on reducing carbon footprint across all operations.

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