BPCL sets sights on 4,000 new service stations by 2029
Published on: Jul 15, 2024
The state-owned company is planning to invest almost $20 billion over the next five years to expand its fuel retail and refining operations.
India's Bharat Petroleum (BPCL) plans to invest close to $20 billion for the expansion of its operations, including its refining and fuel retail businesses.
The project is based around the state-owned company’s refining operations, which is set to impact across other arms, as reported by S&P Global. As the firm grows its petrochemicals footprint, a 4,000-service-station expansion is also on its sights.
Plans also include embracing alternative energies across its network and exploring new opportunities with its aviation fueling business
"India's booming economy is our tailwind. We're confident it will drive a surge in energy demand, further fueling growth in our core and new businesses. We are planning to expand our refining capacity to 45 million mt year and add 4,000 new fuel stations by 2029," said Gopalan Krishnakumar, Chairman of BPCL.
Currently, the company operates three refining facilities that have a combined capacity of approximately 35.3 million mt yearly. With these locations set in Mumbai, Kochi and Bina, a fourth facility is planned to be established in the next five years, which is projected to add a 12 million mt per year capacity.
