Bharat Petroleum Corporation Limited (BPCL) has announced the approval of its Board of Directors to incorporate a Wholly Owned Subsidiary (WOS). This new entity will serve as a dedicated project company for the proposed Greenfield Refinery & Petrochemical Complex at Ramayapatnam, Andhra Pradesh. The subsidiary will have an initial authorized share capital of up to ₹4900 crores, facilitating project activities, financing, and partnerships.
BPCL to Establish New Subsidiary for Major Refinery Project
Bharat Petroleum Corporation Limited (BPCL) has received board approval to establish a new wholly-owned subsidiary (WOS). This strategic move is aimed at creating a dedicated legal and governance structure for the development of the company’s proposed Greenfield Refinery & Petrochemical Complex and associated facilities. The project is planned to be located at Ramayapatnam in Andhra Pradesh.
Financial Structure and Project Aims
The incorporation of this subsidiary will enable BPCL to carry out project activities more effectively. The new entity is authorized to have an initial share capital of up to ₹4900 crores. This subsidiary will support critical functions such as due diligence, engagement with lenders and potential partners, and the development of an optimal financing and partnership structure for this significant undertaking. Detailed feasibility reports are currently being finalized, with financial investment decisions and commitments to be considered at a later stage.
Source: BSE
