BPCL Mega Deal: BPCL’s big decision; Partnership with Shell and Tiki Tar to manufacture modern asphalt for road construction

• Big decision of BPCL
• Partnership with Shell and Tiki Tar to manufacture modern asphalt for road construction
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Mumbai, June 29, 2026: Bharat Petroleum Corporation Limited (BPCL) today signed a joint venture and share subscription agreement. He hereby announced a strategic partnership with ‘Tiki Tar and Shell India Private Limited’ (TTSIPL). Under this partnership, BPCL has partnered with ‘Shell Gas B.V.’ (Shell Gas BV) and ‘Tiki Tar Industries (Baroda) Limited’ (Tiki Tar Industries (Baroda) Limited) will work together. Since 2019, TTSIPL has been developing value added bitumen products for road and infrastructure sector in India. India’s infrastructure and road construction sector is growing rapidly due to government initiatives like ‘Bharathama Project’. Through this strategic investment, BPCL is poised to capitalize on opportunities in this sector. The joint venture will focus on the production, marketing and sale of value added bitumen (VAB) including polymer modified bitumen (PMB), crumb rubber modified bitumen (CRMB) and bitumen emulsion.

Due to its superior durability and temperature stability, the demand for these special products is increasing rapidly in large scale projects like national highways and runways of airports. This initiative will implement environment-friendly measures to promote waste circularity along with reducing carbon emissions in India’s road construction sector. The tripartite agreement brings together the complementary capabilities of the three companies to grow the business and will see the venture ‘rebranded’ under the new ownership structure. In this venture, Shell will provide world-class cutting-edge technology and innovation capabilities, while Tiki Tar will provide its network of six manufacturing plants and strong logistics infrastructure.

BPCL will use its wide distribution area. This will enable the joint venture to effectively secure large government contracts, Public Works Department (PWD) projects and large-scale infrastructure projects. Emphasizing the potential of this joint venture, Chairman and Managing Director (CMD) of Bharat Petroleum Corporation Limited (BPCL), Shri. Sanjay Khanna said, “India’s infrastructure is evolving rapidly. This is laying the foundation for a new India that is more capable and better connected. Through this joint venture with Shell Gas B.V. and Tiki Tar, we are bringing together world-class technology, advanced blending capabilities and BPCL’s extensive manufacturing and distribution network to strengthen the performance bitumen sector. Together, we are bringing modern road construction technology to every corner of the country. Committed to the mission of ‘Energising Lives’, we will contribute significantly to the infrastructure development that will shape India’s future.”

Stating the importance of this strategic partnership, Bharat Petroleum Corporation Limited (BPCL) Director (Marketing) Shri. Subhankar Sen said, “The road sector in the country is currently witnessing historic growth, and the demand for value-added bitumen with greater durability has increased significantly. By partnering with established industry leaders, BPCL is taking a major step to scale up its products. This will enable it to supply high-quality bitumen required for major government projects like the ‘Bharatmala Project’. Backed by our extensive sales network, this joint venture has won important government and infrastructure contracts.” It will be easier to acquire. This will ensure collective progress and long-term profitability of all three companies.”

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Speaking about the potential of this joint venture, Chairman of TTSIPL and Chairman of Shell Aviation Shri. Raman Ojha added, “This joint partnership has further doubled our operational capacity over the years. Shell’s global experience, innovations in bitumen and Tiki Tar’s large production capacity in the country have combined to form a solid foundation for this work since 2019. With BPCL as a strategic partner, our partnership will not only strengthen but also open up new possibilities to transform the bitumen sector in the country.” Together, we are fully prepared to set new benchmarks for the industry, accelerate innovation and support India’s journey towards a more sustainable and resource-efficient road construction.”

Tiki Tar’s Mr. Rajendra Shah emphasized on the actual commercial and technical readiness of this joint venture. “For more than 60 years, Tiki Tar has been one of the leading companies in India’s construction sector using state-of-the-art technology. Strong local manufacturing capabilities and our expertise in low-cost manufacturing are Tiki Tar’s greatest strengths in this joint venture. Through our six state-of-the-art plants located at Taloba, Halol, Palwal, Mangalore, Vizag and Pithampur, we will seek to scale up this joint venture immediately and at scale. BPCL’s market reach and With Shell’s technology, we are poised to lead the VAB market.”

Business Head of Industrial and Commercial Solution Shri. Manoj Menon said, “This partnership is a very important step to further strengthen BPCL’s industrial and commercial portfolio with high-performance value-added bitumen products. By bringing together Shell’s advanced technology, Tiki Tar’s manufacturing expertise and BPCL’s extensive market reach, we are poised to deliver innovative and sustainable solutions. These solutions will support India’s fast-growing infrastructure sector and create long-term value for our customers.”

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