“…we wish to inform you that the Board of Directors at its meeting held on 12th September 2024 has approved the expansion of Cochin Coimbatore Karur Pipeline (CCKPL) and Irugur Devangonthi Pipeline (IDPL) along with creation of Palakkad TOP Kerala,” the stock exchange said in a statement.
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The expansion also includes construction of an oil storage terminal at Palakkad, Kerala. The capacity of the CCKPL pipeline will be increased from 3.3 MMTPA to 7 MMTPA, while the IDPL pipeline will have an additional capacity of 1.1 MMTPA, taking its total capacity to 3.5 MMTPA upon completion.
The project, aimed at improving the disposal of finished petroleum products from BPCL’s Kochi refinery, is expected to be completed within 36 months, pending statutory approvals and land acquisition. The investment will be funded from BPCL’s internal resources.
Actions of Bharat Petroleum Corporation Ltd. closed at ₹343.55, up ₹3.25 or 0.96% on the BSE.
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