BPCL Partners with Shell and Tiki Tar to Expand Value-added Bitumen Business in India

Joint venture to focus on polymer modified bitumen, crumb rubber modified bitumen and bitumen emulsions for road, airport and infrastructure projects.

Bharat Petroleum Corporation Limited (BPCL) has announced a strategic investment in Tiki Tar and Shell India Private Limited (TTSIPL), a joint venture established in 2019 to develop value-added bitumen products for India's road construction and infrastructure sector.

The partnership follows the signing of a joint venture and share subscription agreement. Under the new ownership structure, BPCL will work alongside Shell Gas B.V. and Tiki Tar Industries (Baroda) Limited. The company stated that the joint venture will also be rebranded to reflect the revised ownership.

Focus on Value-added Bitumen Products

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

According to the companies, these products are increasingly used in national highway developments and airport runway construction due to their durability, temperature stability and longer service life. The venture also plans to introduce solutions focused on decarbonisation and waste circularity within India's paving industry.

The investment aligns with the country's expanding infrastructure and road construction activities, including government programmes such as the Bharatmala Pariyojana.

Shri Sanjay Khanna, Chairman & Managing Director, BPCL, with additional charge of Director ( Refineries )

Combined Capabilities Across Technology, Manufacturing and Distribution

Under the partnership, Shell will contribute technology and innovation capabilities for advanced value-added bitumen and circular solutions. Tiki Tar will provide its manufacturing network comprising six plants and its logistics infrastructure.

BPCL will support the venture through its nationwide sales and distribution network, enabling the business to serve government contracts, Public Works Department (PWD) projects and large-scale infrastructure developments.

Commenting on the development, Shri Sanjay Khanna, Chairman and Managing Director (CMD) of Bharat Petroleum Corporation Limited (BPCL), said:

"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."

Shri Subhankar Sen, Director (Marketing), BPCL, said:

Shri Subhankar Sen, Director (Marketing), BPCL

“India’s road, airport and infrastructure sector are witnessing unprecedented development, the highly durable value-added bitumen is playing an ever increasing role in the creation of standards in our country which are second to none at a global level.

By partnering with established industry leaders, Bharat Petroleum is taking a decisive step to expand our product portfolio and meet the stringent quality demands of mega-projects under the Bharatmala Pariyojana and the Hon’ble PM Gati Shakti National Master Plan through multimodal integration and the expanding greenfield and brownfield airport runway development projects. We bring our brand promise of providing best-in-class customer solutions and our pan India sales and marketing network to the table, which will empower this joint venture to be an active participant in nation building and in the country’s major infrastructure projects ensuring highest quality and service standards, collective growth and long-term profitability.”

Shri Raman Ojha, Chairman, TTSIPL and President Shell Aviation, Shell, said:

“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.”

Shri Rajendra Shah from Tiki Tar said:

“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.”

Mr. Manoj Menon, Business Head (Industrial & Commercial Solutions), said:

"This partnership marks a significant step in strengthening BPCL's Industrial & Commercial Solutions 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 well positioned to deliver innovative, durable solutions that support India's rapidly growing infrastructure sector while creating long-term value for our customers."