Mumbai: Divestment-bound national oil marketer Bharat Petroleum Corporation has resumed work on as many as 2,118 projects involving a capital expenditure (Capex) of around Rs 50,300 crore over three years.
Of the total estimated capital investment, Rs 9,597 crore is targeted for the current fiscal, of which it has already spent Rs 1,650 crore, the second-largest oil marketing company said on Wednesday.
The company had last month said it would cut down on its Rs 12,500 crore CAPEX plan announced earlier this year due to the lockdowns and would spend only Rs 8,000 crore. The new announcement increases the CAPEX for the current fiscal by almost Rs 1,600 crore.
The company plans to complete 10 projects worth Rs 18,766 crore (both capex and operational expenditure) in this fiscal and the biggest two of them are in Kochi.
The two projects are Rs 5,246-crore propylene derivative petrochemical project (PDPP) in Kochi and the Rs 3,289-crore motor spirit block project (MSBP) at the Kochi Refinery, which is its largest refinery with 15 million tonne capacity.
Both these projects were stalled since April due to the lockdowns which also stopped international flights making it impossible for the highly skilled foreign manpower to reach the country, the company had said earlier this month.
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