BPCL to invest in Kochi refinery

Bharat Petroleum Corporation Ltd. (BPCL) plans to invest Rs5,000 crores (US$1.09 billion) at its newly merged Kochi Refineries Ltd.. The investment includes setting up a new polypropylene plant, upgrading the quality of the bitumen plant, capacity addition from 7.5 to 10 million tons by 2009 and completion of the single buoy mooring facility in 2007. The merged entity is expected to achieve greater efficiency through the optimization of its product mix and rationalization of logistics for product movement from the refinery at Kochi. (August 26, 2006)