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Business Economy


PM lays foundation stone & dedicated to nation of BPCL projects worth Rs 9,800 cr

PM lays foundation stone & dedicated to nation of BPCL projects worth Rs 9,800 cr

New Delhi, Mar 2 (UNI) Prime Minister Narendra Modi on Saturday laid the foundation stone and dedicated it to the nation for the launch of nine projects worth Rs 9,800 crore led by public sector giant Bharat Petroleum Corporation Limited (BPCL) in Bihar.

In a major stride towards bolstering infrastructure and fuel production capabilities, BPCL is set to embark on a series of transformative projects with a cumulative investment of Rs. 9,800 crore for the combined nine projects.

Out of these 9 projects, 4 have already been completed, while the remaining 5 are slated for completion between 2024 and 2025.

All of the projects are poised to yield multifaceted benefits for society at large. Beyond their immediate impact on the energy sector, these initiatives will play a pivotal role in fostering socio-economic growth, a press release said.

The implementation of these projects is anticipated to generate employment opportunities of approximately 22.5 lakh mandays, thereby contributing to job creation and skill development within the community.

With the growing demand for fuel and energy in their respective locations, these initiatives have become catalysts for economic growth. Additionally, the expansion of the CGD network in regions like Fazilka, Ganganagar, and Hanumangarh is in alignment with the government’s vision of increasing the participation of natural gas in India’s energy basket to 15 percent by 2030.

There are 5 projects under the foundation stone, which include: Kalaburagi POL Depot: Located in Kalaburagi, Karnataka, BPCL constructed a POL depot spanning 56 acres, amounting to Rs 246 crore; City Gas Distribution in Fazilka, Ganganagar, and Hanumangarh: Covering Fazilka, Ganganagar, and Hanumangarh districts in Rajasthan and Punjab, this project targets logistic savings of Rs. 60 crore annually while reducing CO2 emissions.

Besides, four projects were dedicated to the nation by the Prime Minister, the release added.

UNI SKB GNK

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