CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company and a Maharatna PSU, today announced a strategic partnership with Tiki Tar and Shell India Private Limited (TTSIPL), following the signing of a joint venture and share subscription agreement. Under this partnership, BPCL will collaborate with existing partners, Shell Gas B.V. and Tiki Tar Industries (Baroda) Limited. Established in 2019, TTSIPL develops value-added bitumen products for India’s growing road construction and infrastructure sector.
The strategic investment positions BPCL to capitalize on India’s rapidly growing infrastructure and road construction sector, driven by large-scale government initiatives such as the Bharatmala Pariyojana. 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 emulsions. These specialised products are increasingly preferred for national highway projects and airport runways due to their enhanced durability, temperature stability, and longer lifecycle. The venture will also introduce solutions aimed at decarbonisation and waste circularity in India’s paving industry.
The tripartite partnership brings together highly complementary strengths to scale up the business and will be rebranded to reflect the new ownership structure. Shell will contribute advanced technology and global innovation capabilities for the development of advanced value added bitumen and circular solutions, while Tiki Tar will bring its manufacturing network of six plants and established logistics infrastructure. BPCL, in turn, will leverage its extensive sales network, enabling the joint venture to effectively target major government contracts, PWD projects, and large-scale infrastructure initiatives.
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