Bharat Petroleum Corporation Limited — Important, 22-01-2025: Arrangements for strategic, technical, manufacturing, or marketing tie up

Bharat Petroleum Corporation Limited (BPCL) has approved the formation of a joint venture with Praj Industries Limited to establish Compressed Bio Gas (CBG) plants across India, pending regulatory approvals. The joint venture will have an equal shareholding structure, with both BPCL and Praj holding 50% stakes. The scope includes the construction, operation, and maintenance of CBG plants, along with the sale of CBG and its derivatives. This initiative aligns with BPCL's strategy to meet CBG blending obligations and supports energy transition and net-zero initiatives. Investors should view this development as a positive step towards sustainable energy solutions, potentially enhancing BPCL’s market position in the green energy sector.