BPCL halts Kochi polyol plant ops
ECONOMY & POLICY

BPCL halts Kochi polyol plant ops

Indian public sector oil and gas company Bharat Petroleum Corporation Ltd (BPCL) has halted a planned speciality petrochemicals plant for producing polyols at its Kochi refinery as the state-run firm prefers to wait for the outcome of the privatisation bid currently underway before proceeding on the Rs 11,130 crore project.

The project is to be built on 170 acres of land adjoining the refinery that was acquired by BPCL from Fertilisers and Chemicals Travancore Ltd (FACT), also a central PSU. It was put in motion in January 2019.

After completing land levelling work for erecting the plant, BPCL halted the construction of a road underpass to link the project site with the refinery, sources in the Kochi refinery said.

The licensor selection process for sourcing technology for the polyol plant has also been frozen.

Sources said all project-related activities have been halted. The BPCL management feels that given the huge investment involved, it would be appropriate to move ahead with the project only with the consent of the company's private owner following strategic disinvestment, said sources.

The polyol plant's uncertainty has cast a shadow over the petrochemical park planned by the Kerala government where small industries will manufacture products utilising niche/speciality petrochemicals sourced from the polyol plant and the Propylene Derivatives Petrochemical Project (PDPP).

The BPCL-built PDPP with an investment of Rs 75,246 crore, is expected to be commissioned by February end.

Other projects

The centre's decision to transfer 170 acres of land belonging to FACT to BPCL with Kerala government's approval for building the polyol plant, has also come under criticism as the land will pass on to private hands following disinvestment.

BPCL has also halted work on a skill development centre for training students passing out of the ITI at Ettumanoor near Kochi. The state had offered eight acres of land at ITI for a centre that planned to train 1,500 students a year.

Kerala government officials took an anti-privatisation stance and said that BPCL should not be privatised, in the interests of the state's development.

Indian public sector oil and gas company Bharat Petroleum Corporation Ltd (BPCL) has halted a planned speciality petrochemicals plant for producing polyols at its Kochi refinery as the state-run firm prefers to wait for the outcome of the privatisation bid currently underway before proceeding on the Rs 11,130 crore project.The project is to be built on 170 acres of land adjoining the refinery that was acquired by BPCL from Fertilisers and Chemicals Travancore Ltd (FACT), also a central PSU. It was put in motion in January 2019. After completing land levelling work for erecting the plant, BPCL halted the construction of a road underpass to link the project site with the refinery, sources in the Kochi refinery said. The licensor selection process for sourcing technology for the polyol plant has also been frozen. Sources said all project-related activities have been halted. The BPCL management feels that given the huge investment involved, it would be appropriate to move ahead with the project only with the consent of the company's private owner following strategic disinvestment, said sources. The polyol plant's uncertainty has cast a shadow over the petrochemical park planned by the Kerala government where small industries will manufacture products utilising niche/speciality petrochemicals sourced from the polyol plant and the Propylene Derivatives Petrochemical Project (PDPP). The BPCL-built PDPP with an investment of Rs 75,246 crore, is expected to be commissioned by February end. Other projects The centre's decision to transfer 170 acres of land belonging to FACT to BPCL with Kerala government's approval for building the polyol plant, has also come under criticism as the land will pass on to private hands following disinvestment. BPCL has also halted work on a skill development centre for training students passing out of the ITI at Ettumanoor near Kochi. The state had offered eight acres of land at ITI for a centre that planned to train 1,500 students a year. Kerala government officials took an anti-privatisation stance and said that BPCL should not be privatised, in the interests of the state's development.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code