Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company and Maharatna Public Sector Undertaking (PSU), entered into a strategic partnership with Tiki Tar Industries and Shell India Private Limited (TTSIPL) to strengthen its presence in India’s rapidly expanding infrastructure and road construction sector.
The partnership follows the signing of a Joint Venture (JV) and Share Subscription Agreement under which BPCL joins the existing partners—Shell Gas B.V. and Tiki Tar Industries (Baroda) Limited. Established in 2019, TTSIPL specializes in developing and marketing value-added bitumen products designed to meet the evolving needs of India’s transportation infrastructure.
Capitalizing on India’s Infrastructure Boom
The investment comes at a time when India’s road infrastructure sector is witnessing unprecedented growth, driven by ambitious government initiatives such as the Bharatmala Pariyojana and
large-scale highway expansion projects. Through the joint venture, the partners will manufacture, market, and distribute a comprehensive portfolio of value-added bitumen (VAB) products, including:
Polymer Modified Bitumen (PMB)
Crumb Rubber Modified Bitumen (CRMB)
Bitumen Emulsions
These advanced products offer superior durability, enhanced temperature resistance, and longer service life, making them ideal for national highways, expressways, airport runways, and other high-performance infrastructure projects. In addition, the venture will develop sustainable paving solutions focused on decarbonization, waste circularity, and resource efficiency, supporting India’s transition toward greener infrastructure development.
Complementary Strengths to Drive Growth
The three partners bring complementary capabilities that will significantly strengthen the joint venture’s competitive position. The company will also be rebranded to reflect its new ownership structure.
Shell will contribute its globally recognized expertise in advanced bitumen technologies and innovation, including sustainable and circular paving solutions. Tiki Tar will provide its extensive manufacturing network comprising six production facilities and an established logistics infrastructure across India. BPCL will leverage its nationwide marketing and distribution network to expand market reach and secure major government contracts, Public Works Department (PWD) projects, and large-scale infrastructure developments. The integrated approach is expected to accelerate the adoption of premium bitumen solutions across the country.
BPCL Focuses on Next-Generation Road Construction
Sanjay Khanna, Chairman and Managing Director (CMD), 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.”
Meeting Rising Demand for High-Performance Bitumen
Subhankar Sen, Director (Marketing), BPCL, stated, “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.”
Shell Brings Global Technology Leadership
Raman Ojha, Chairman, TTSIPL and President, Shell Aviation, emphasized, “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.”
Tiki Tar Strengthens Manufacturing Capability
Rajendra Shah highlighted Tiki Tar’s manufacturing expertise and nationwide production footprint. “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 manufacturing footprint and cost-effective production capabilities. Through our six state-of-the-art plants located at Taloja, Halol, Palwal, Mangalore, Visakhapatnam, and Pithampur, we provide immediate and scalable production capacity. Combined with BPCL’s market reach and Shell’s technology, we are uniquely positioned to lead India’s value-added bitumen market,” Shah said.
Enhancing BPCL’s Industrial & Commercial Solutions Portfolio
Manoj Menon, Business Head-Industrial and Commercial Solutions, BPCL, 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.”
Driving Innovation in India’s Road Construction Sector
The strategic partnership marks a significant milestone for BPCL as it expands beyond conventional fuels into high-value infrastructure materials. By combining advanced technology, manufacturing excellence, and an extensive market network, the joint venture aims to accelerate the adoption of premium bitumen products while supporting India’s ambitious infrastructure development goals. As per the press release, with increasing emphasis on durable roads, sustainable construction practices, and circular economy solutions, the collaboration is well-positioned to play a pivotal role in shaping the future of India’s road construction industry.
