BPCL Awards Major Contracts to Technip Energies for Bina and Mumbai Refineries

Bharat Petroleum Corporation Ltd (BPCL) has issued letters of intent to Technip Energies Limited for three contracts. The first is for the Engineering, Procurement, Construction and Commissioning (EPCC) package of Polypropylene (PP) and Butene-1 unit for Bina Refinery, estimated at Rs.3600 crore. The second is for Engineering, Procurement and Construction Management (EPCM) services for Petro Resid Fluidized Catalytic Cracking (PRFCC) Unit for Mumbai Refinery, estimated at Rs.467 crore. The third is for Engineering, Procurement and Construction Management (EPCM) services for Hydrocracker Unit (HCU) revamp for Mumbai Refinery, estimated at Rs.50 crore. These contracts are in the ordinary course of business and do not envisage price movement in BPCL shares.