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(Plastemart) -- India’s state-owned
BPCL plans to invest USD 400 mln for a 10% stake in a liquefied natural gas
(LNG) terminal in Mozambique, as well as invest USD 1.3 bln in a greenfield
petrochemicals complex, adjacent to its Kochi refinery.
BPCL has earmarked a fourth of its Rs 40,000 crore capital expenditure
for upstream projects. Out of this most will be invested for developing the
offshore Rovuma Basin gas field in Mozambique. BPCL’s diversification strategy
comprises setting up a USD 1.3 bln petrochemicals complex in Kochi for which
talks are underway with at least four international majors.
mrcplast.com
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