Bharat Petroleum Corporation Limited (BPCL) has entered into a strategic joint venture with Tiki Tar and Shell India Private Limited (TTSIPL) to strengthen its presence in India's fast-growing road construction and infrastructure sector.

 

The partnership follows the signing of a joint venture and share subscription agreement under which BPCL joins existing partners Shell Gas and Tiki Tar Industries (Baroda) Limited in TTSIPL, a company established in 2019 to develop value-added bitumen products for India's expanding infrastructure market.

 

The investment comes as India ramps up spending on highways and connectivity projects under flagship programmes such as the Bharatmala Pariyojana. 

 

The joint venture will manufacture, market and sell value-added bitumen (VAB) products, including polymer modified bitumen (PMB), crumb rubber modified bitumen (CRMB) and bitumen emulsions.

 

These specialised products are increasingly being used in national highways and airport runways because of their superior durability, temperature resistance and longer service life. The venture will also focus on introducing solutions that promote decarbonisation and waste circularity in India's road construction sector.

 

The partnership combines Shell's advanced technology and global innovation capabilities in value-added bitumen with Tiki Tar's network of six manufacturing plants and established logistics infrastructure. 

 

BPCL will leverage its extensive marketing and distribution network to expand the venture's reach across major government contracts, Public Works Department (PWD) projects and large-scale infrastructure developments.

 

Emphasising on the potential of this Joint venture, Sanjay Khanna, Chairman and Managing Director (CMD) of Bharat Petroleum Corporation Limited (BPCL) said that India's infrastructure is evolving at an unprecedented pace, creating the foundation for a more resilient and connected future. 

 

"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 will make next-generation road construction technologies accessible across the country, contributing to infrastructure that is shaping the future of India while staying true to BPCL's purpose of Energising Lives."

 

Speaking on the strategic importance of the acquisition, Subhankar Sen, Director (Marketing) from Bharat Petroleum Corporation Limited (BPCL) said, “India’s road sector is witnessing unprecedented growth, and the demand for highly durable value-added bitumen is accelerating. 

 

"By partnering with established industry leaders, BPCL is taking a decisive step to expand our product portfolio and meet the stringent quality demands of mega-projects under the Bharatmala Pariyojana. We bring our vast sales network to the table, which will empower this joint venture to secure significant government and infrastructure contracts, ensuring collective growth and long-term profitability.”

 

Speaking on the potential of this Joint venture, Shri Raman Ojha, Chairman TTSIPL and President Shell Aviation, Shell added, “This joint venture represents the coming together of complementary strengths built over decades. 

 

"Shell’s global expertise and legacy of innovation in advanced bitumen solutions, combined with Tiki Tar’s extensive pan-India manufacturing capabilities, have already created a strong foundation since 2019. 

 

"With BPCL joining as a strategic partner, we are not just strengthening the partnership but unlocking new possibilities to transform the bitumen landscape. Together, we are well positioned to redefine industry benchmarks, drive innovation, and support India’s shift towards more durable and resource-efficient road construction.”

 

Rajendra Shah from Tiki Tar emphasized the operational readiness of the venture, “For over six decades, Tiki Tar has been a premier provider of construction solutions in India. Our contribution to this joint venture lies in our robust, on-ground manufacturing footprint and cost-effective production. 

 

"Across our six state-of-the-art plants Taloja, Halol, Palwal, Mangalore, Vizag and Pithampur we provide the JV with immediate, scalable production capacity. Combined with BPCL’s market reach and Shell’s technology, we are uniquely positioned to lead the VAB market.”