BPCL Bottom Upgradation Project on Hold in India due to Privatization Plans, an Industrial Info Market Brief Industry Segment: Market Brief | Word Count: 112 Words Bharat Petroleum Corporation Limited (BPCL) (Mumbai, India) has put on hold the Bottom Upgradation project for its Mumbai Refinery, as a result of the company's ongoing privatization plans. BPCL expects to resume the project after the privatization is complete.