New Delhi: Bharat Petroleum Corporation Limited (BPCL), a Fortune 500 Maharatna public sector undertaking, has signed a non-binding Memorandum of Understanding (MoU) with Rossari Biotech Limited, a leading Indian specialty chemicals manufacturer, at India Energy Week 2026. The agreement marks a step towards strengthening downstream value creation in India’s growing petrochemical sector.
The MoU was signed by Shri Atul Khanwalkar, Head – Petrochemicals Task Force, BPCL, and Mr. Sandeep Tulshyan, Head – Supply Chain & Global Projects, Rossari Biotech Limited. The signing took place in the presence of senior leadership from both organisations, including Shri Sanjay Khanna, Director (Refineries) and Additional Charge Chairman & Managing Director, BPCL; Shri Subhankar Sen, Director (Marketing), BPCL; and Shri Ketan Sablok, Group Chief Financial Officer, Rossari Biotech Limited.
Focus on Downstream Value Creation
Under the MoU, BPCL and Rossari Biotech will explore opportunities for strategic collaboration in downstream petrochemical value creation. The potential partnership is aligned with BPCL’s upcoming refinery–petrochemical complex at Bina, Madhya Pradesh, which is expected to significantly enhance BPCL’s petrochemical footprint.
The collaboration framework will assess synergies across the petrochemical value chain, including product development, supply chain integration, and downstream applications relevant to specialty chemicals and allied industries.
Strategic Alignment with BPCL’s Petrochemical Vision
The association reflects BPCL’s broader strategy to strengthen value capture beyond traditional refining operations by expanding into higher-value petrochemical and specialty chemical segments. Rossari Biotech’s expertise in specialty chemicals is expected to complement BPCL’s planned petrochemical capacities, subject to further evaluations and approvals.
Non-Binding Agreement
BPCL clarified that the MoU is non-binding in nature and is intended to establish a framework for discussions and feasibility assessments. Any future collaboration will be subject to detailed evaluations, regulatory approvals, and execution of definitive agreements.
The signing of the MoU at India Energy Week 2026 highlights the event’s role as a key platform for facilitating strategic partnerships across India’s energy and petrochemical ecosystem.