Bharat Petroleum Corporation (BPCL) witnessed a modest 1% uptick, reaching Rs 452.70 in the early trading hours on December 20. This upward movement came on the heels of BPCL’s revelation of its intention to establish a polypropylene unit at the Kochi refinery.
In a press release issued on December 19, 2023, the company disclosed, “The company board, at its convened meeting, has greenlit a proposal to construct a polypropylene (PP) unit for the production of polypropylene at Kochi refinery, with a total project cost pegged at Rs 5,044 crore.”
The envisaged capacity expansion entails the addition of 400 Kilo-Tonnes Per Annum (KTPA) of Polypropylene, a venture anticipated to unfold over approximately 46 months from the investment approval date.
As of 9:37 am, the shares demonstrated a 0.66% elevation, settling at ₹452.70.
