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Madhya Pradesh Government Approves Rs 50,000 Crore BPCL Proposal for Bina Refinery Expansion

Aug 26, 2023

In a significant move towards economic growth and industrial expansion, the Madhya Pradesh government has approved a revised proposal with an investment of Rs 50,000 crore for the expansion of the Bina Refinery owned by Bharat Petroleum Corporation Limited (BPCL). The announcement was made by Chief Minister Shivraj Singh Chouhan on Tuesday.

Bina Refinery Expansion and Petrochemical Project

Originally conceived with a budget of Rs 43,000 crore, the Bina Refinery expansion project has now received a substantial increase in investment, underlining the government’s commitment to advancing the state’s industrial landscape. The expansion project is expected to not only enhance the refinery’s capabilities but also facilitate the establishment of a state-of-the-art petrochemical project.

Job Creation and Economic Impact

One of the key highlights of this venture is the potential to generate employment opportunities for approximately 2000 individuals. This move aligns with the government’s agenda to provide meaningful livelihoods to its youth population. Furthermore, the economic ripple effects are expected to be significant, as the project will drive demand for various ancillary services and sectors.

Diversified Product Line

The expanded Bina Refinery complex is set to yield a diversified range of petroleum by-products, catering to both domestic and international markets. These products include essential fuels such as gasoline, diesel, and aviation turbine fuel (ATF), as well as critical materials like Linear Low Density Polyethylene (LLDPE), High Density Polyethylene (HDPE), bitumen, and benzene. This comprehensive offering aligns with the growing demands of the energy and petrochemical sectors.

MSMEs and Downstream Development

To ensure a sustainable supply of raw materials (feedstock) and maximize the project’s impact, several downstream Micro, Small, and Medium Enterprises (MSMEs) will be established in the vicinity of the complex. This strategic move aims to foster a supportive ecosystem while providing numerous opportunities for local entrepreneurs and businesses to thrive.

Madhya Pradesh Government Approves Rs 50,000 Crore BPCL Proposal for Bina Refinery Expansion

Path Ahead and Timeline

The anticipated commencement of production from the expanded Bina Refinery complex is slated for the financial year 2027-28. The project’s progress will be keenly observed as it navigates various developmental stages, aiming to contribute significantly to the region’s industrial growth.

In a parallel development, the government committee has also given the nod for an investment of Rs 150 crore in the Mohasa-Babai industrial area, further enhancing the industrial infrastructure of the state.

The approval of this substantial investment underscores Madhya Pradesh’s commitment to fostering economic growth, job creation, and sectoral diversification. As the project takes shape, it is poised to play a pivotal role in shaping the state’s industrial trajectory for years to come.

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