On Tuesday, May 16, Bharat Petroleum Corporation Ltd (BPCL), a state-owned company, announced that its board has granted approval for the ethylene cracker project at Bina Refinery. This project includes the expansion of the refinery and the establishment of downstream petrochemical plants, with an estimated capital expenditure of approximately INR 49,000 crores.
The board has approved the installation of two 50 MW wind power plants, one at Bina Refinery in Madhya Pradesh and another at Mumbai Refinery in Maharashtra, for captive consumption. The total project cost for the wind power plants is approximately INR 978 crore (INR 489 crore for each project).
Additionally, the board authorized the construction of Petroleum Oil Lubricants (POL) and Lube Oil Base Stock (LOBS) storage installations, along with receipt pipelines at Rasayani in Maharashtra, with an approximate project cost of INR 1,903 crores.
Last month, the Madhya Pradesh Investment Promotion Committee, led by Chief Minister Shivraj Singh Chouhan, approved a revised proposal ranging from INR 43,000 crores to INR 50,000 crores for the expansion of BPCL’s Bina refinery and the establishment of a petrochemical project. Production is anticipated to commence by the financial year 2027-28.
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