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State-run Bharat Petroleum Corporation (BPCL) will diversify into Petrochemicals at an estimated capital cost of Rs 4,588 Crores.
The company in a statement to the stock exchanges said it plans to produce niche petrochemicals such as Acrylic Acid, Acrylates and Oxo Alcohols that are predominantly being imported into the country, at its Kochi Refinery facility, using the Polymer Grade Propylene that will be available after the ongoing Integrated Refinery Expansion Project (IREP) is completed.
The major end uses are in paints and coatings, adhesives, plasticisers, solvents, water treatment etc. The unit is expected to come on stream during the Financial Year 2018-19. The project proposal will now be submitted for obtaining environmental clearance, BPCL said.
