BPCL Kochi Refinery poised for Rs 20,000 crore expansion

KOCHI:The union minister for petroleum and natural gas S Jaipal Reddy dedicated to the nation the Rs 4000 crore capacity expansion and modernization project phase II of Bharat Petroleum Kochi Refinery on Friday. The project envisages refining capacity expansion from 7.5 million tones to 9.5 million tones making BPCL KRL fully equipped to make euro III grade petrol and diesel . With this, the total refining capacity of the BPCL group now stands at 30.5 million tonnes

BPCL KRL is poised for further expansion to 15.5 million tonnes along with a foray into petrochemicals segment. This project envisages an investment of Rs 20,000 crore. Kerala chief minister Oommen Chandy, who was present at the meeting, said the company had requested for special concession of deferment of sales tax for 15 years for the proposed expansion. The chief secretary is already looking into the matter and is expected to submit a report soon, Oommen Chandy said.

Later talking to newspersons Jaipal Reddy said the regassified LNG terminal at Kochi is in an advanced stage of construction under the aegis of Petronet LNG. The Rs 4200 crore project is expected to be completed by 2012 and will provide 4500 mw of power.

On the request of the chief minister for allotment of domestic gas to Kerala, Jaipal Reddy said it will be discussed by an empowered group of ministers