PM Lay Foundation of MP's BPCL Bina Refinery Worth ₹ 49,000 Cr Project

Prime Minister Shri Narendra Modi, will lay the foundation stone of Downstream Petrochemical Complex and Refinery Expansion Project, at BPCL’s Bina Refinery in Bina, Sagar, Madhya Pradesh, on 14th September 2023.

Investment of Rs 49,000 Crore would bring prosperity and happiness in the entire region of Bundelkhand. 

The entire project would be completed in five years. The Ethylene Cracker Complex will use the captive feedstock like Naphtha, LPG, Kerosene, etc. from Bina Refinery.

Importance of Refinery

Govt. of Madhya Pradesh has been supporting the project by providing fiscal incentives under SGST refund, Interest free loan & interest subsidy assistance, Concessional Power, Exemption of Stamp Duty, etc.

• Under this Project the capacity of Bina Refinery would be enhanced to 11 MMTPA which would produce more than 2200 Kiloton petrochemical products. 
• Employment Generation: Once completed the Petrochemical Complex would bring many diversified employment opportunities to the young entrepreneurs of Bundelkhand region.
  • The investment shall result in creating more than 1 lakh direct or indirect employment opportunities along with saving of foreign exchange worth  Rs 20,000 crore per annum . 
• Business opportunities: This Petrochemical Complex would open the door for various downstream business manufacturing units in the field of Plastic, Pipes, Packaging material, plastic sheets, Automobile parts, Medical equipment, molded furniture, and other items of domestic and industrial use.
• Investment: The project is aligned with India’s aspiration of Atma Nirbhar Bharat by establishing a global manufacturing hub for chemicals & petrochemicals while moving towards realizing the goal of making India a 5 trillion-dollar economy.
• Production: In addition to polymers, there will be production of aromatics (Benzene, Toluene & Mixed Xylene) from the complex, which have the major usage in downstream industries, ancillaries, and service units.
• Industrial Development: This project will catalyze industrial development in the state of MP and the entire Bundelkhand region  with easy access to petrochemical feedstock. It will enable Government’s vision of setting up ‘Petroleum Chemicals and Petrochemicals Investment Region (PCPIR)’ in the State, which will attract major investments in the segments such films, fibers, injection molding, blow molding, pipes, conduits, automobile parts, etc.

About Indian Refineries

The Indian Petroleum refining sector has come a long way since crude oil was discovered and the first refinery was set up at Digboi in 1901. Until 1947, it was the only refinery with a capacity of 0.50 million metric tonnes per annum (MMTPA). 

• The present Mumbai Refinery of HPCL was the first modern refinery to be set up after independence by Esso in 1954, which was followed by setting up of refineries by other oil majors, like Burmah Shell and Caltex in Mumbai (BPCL) and Visakhapatnam (HPCL). Since then, refineries were established by the Government, Private Sector, Joint Venture.