BHARAT PETROLEUM CORPORATION LTD. - Reply to Clarification sought

With reference to earlier announcement dated December 26, 2014 wherein clarification was sought from the Bharat Petroleum Corporation Ltd with regard to a news item "SBI to raise Rs. 4,000 cr for BPCL's petrochemical plan"<BR><BR>In reply there to the Company has informed as follows : <BR><BR>"The board of directors of BPCL had given their approval for diversification into petrochemicals at an estimated capital cost of Rs. 4,588 crore. This was intimated to the Stock Exchanges on December 3, 2014. <BR><BR>BPCL is in the process of evaluating the options for funding the said project with a combination of internal accruals and debt. As of now, no final decision has been taken in this regard."