State-owned Bharat Petroleum Company Ltd has planned a capex of around Rs 6,700 crore over the next three years, a top company official said.
“The capital expenditure for the next two years would be Rs 2,776 crore and in 2010, it will be Rs 4,000 crore,” Bharat Petroleum Chairman and Managing Director Ashok Sinha told shareholders at the company AGM here today.
Besides, Bharat Petroleum’s subsidiary, Bharat PetroResources, had drawn up plans with a committed investment of Rs 1,500 crore for its projects, he said.
The company’s refining capacity would go up to 24 million metric tonnes per annum from 22.5 MMTPA after the completion of capacity expansion and modernisation of its Kochi unit.
Sinha further said this would be further augmented with the setting up of six MMTPA refinery in Bina, Madhya Pradesh.
The entire cost of the project was estimated at Rs 10,378 crore.
The petro company has drawn up plans to diversity into other related areas such as bio-diesel. “It would plant jatropha in one million acres of wasteland and produce one million tonnes of jatropha by 2015,” he said, adding that it would provide employment to one million people, he said.
“Bharat Petroleum is setting up a one-MW capacity grid connected solar farm in Punjab to generate electricity and make it available to the state,” he said.
Foreign Institutional Investors hold 9.3 per cent in the company as on date, Sinha informed. Earlier, they held 10 per cent.
