Bharat Petroleum Corporation Ltd (BPCL), a state-owned enterprise, has announced plans to invest ₹1.7 lakh crore over the next five years as part of its strategic initiative called 'Project Aspire.' This ambitious plan aims to expand its core businesses, including oil refining and fuel marketing, while also making significant investments in emerging sectors such as petrochemicals, green energy, gas, non-fuel retail, and digital services.
BPCL currently holds around 14% of India's oil refining capacity and operates approximately a quarter of the country's fuel retail network. The company's chairman, G Krishnakumar, emphasized that the investment under Project Aspire is part of a multi-decade strategy to ensure long-term growth and sustainability.
The initiative is built on two main pillars: "Nurturing the Core" and "Investing in Future Big Bets." While BPCL continues to grow its traditional businesses, it is equally focused on making strategic investments in new areas that align with the global energy transition.
In addition to its growth plans, BPCL is also committed to achieving net zero carbon emissions from its operations by 2040. The company views this investment as essential to leading the energy transition and creating long-term value for stakeholders while ensuring environmental sustainability for future generations.
