Key Decision
Board of Directors of Bharat Petroleum Corporation Limited, at its meeting held on 23 October 2026, approved the incorporation of a Wholly Owned Subsidiary (WOS) in India.
Project Details
The subsidiary will serve as a dedicated project company for the proposed Greenfield Refinery & Petrochemical Complex and Associated Facilities at Ramayapatnam, Andhra Pradesh.
Capital Structure
Initial authorized share capital of up to ₹4900 crores for the subsidiary.
Purpose and Rationale
The subsidiary will provide a dedicated legal and governance structure to carry out project activities, support due diligence activities, engagement with lenders and potential partners, and development of an optimal financing and partnership structure.
Approvals Required
Subject to requisite Government, statutory and regulatory approvals.
Current Status
Detailed feasibility reports are under finalization. Financial investment decision and financial commitments will be considered separately by competent authorities at the appropriate stage.
Future Communication
Further details of the WOS will be intimated at a later date as per the prescribed format.