Kolkata, June 29, 2026: Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company and Maharatna PSU, has announced a strategic joint venture with Shell Gas B.V. and Tiki Tar Industries (Baroda) Limited to significantly expand India’s value-added bitumen (VAB) portfolio, supporting the country’s fast-growing road and infrastructure sector.
The partnership follows the signing of a Joint Venture and Share Subscription Agreement under which BPCL joins the existing collaboration between Shell and Tiki Tar. The venture, established in 2019, develops advanced bitumen solutions for highways, airports, and major infrastructure projects.
The joint venture will manufacture, market, and distribute specialised products such as Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), and Bitumen Emulsions. These products offer superior durability, enhanced temperature resistance, and longer service life, making them ideal for national highways, airport runways, and other high-performance road projects. The venture will also focus on sustainable paving technologies, including decarbonisation and waste circularity solutions.
The collaboration combines Shell’s global technology and innovation capabilities, Tiki Tar’s manufacturing network of six production plants across India, and BPCL’s extensive nationwide marketing and distribution network. The company will also be rebranded to reflect the new ownership structure.
BPCL Chairman and Managing Director Sanjay Khanna said the partnership would help accelerate the adoption of next-generation road construction technologies while strengthening India’s infrastructure development. He noted that the venture aligns with BPCL’s vision of “Energising Lives” through innovation and sustainable growth.
BPCL Director (Marketing) Subhankar Sen said the rapidly expanding road infrastructure sector, driven by flagship government initiatives such as the Bharatmala Pariyojana, has created strong demand for premium value-added bitumen. He added that BPCL’s nationwide sales network would help the joint venture secure major government and infrastructure contracts.
Shell’s Raman Ojha, Chairman of TTSIPL and President, Shell Aviation, described the partnership as a powerful combination of global technology, manufacturing strength, and market reach that would redefine industry standards and promote more durable, resource-efficient road construction across India.
Representing Tiki Tar, Rajendra Shah highlighted the company’s six strategically located manufacturing facilities at Taloja, Halol, Palwal, Mangalore, Vizag, and Pithampur, providing immediate production capacity to support the venture’s expansion.
BPCL Business Head (Industrial & Commercial Solutions) Manoj Menon said the partnership would strengthen the company’s industrial solutions portfolio while delivering innovative, high-performance bitumen products to support India’s rapidly growing infrastructure ambitions.
The strategic investment reinforces BPCL’s long-term commitment to expanding its value-added product portfolio while contributing to the development of modern, sustainable, and resilient infrastructure across the country.
