PM lays foundation stone of petrochemical complex at BPCL's Bina Refinery

PM lays foundation stone of petrochemical complex at BPCL's Bina Refinery

This state-of-the-art refinery, which will be developed at a cost of about Rs. 49,000 crore and will produce about 1,200 KTPA of ethylene and propylene

  • By ICN Bureau | September 15, 2023

Prime Minister Narendra Modi laid the foundation stone of the downstream Petrochemical Complex and Refinery Expansion Project at BPCL’s Bina Refinery in Bina, Madhya Pradesh.

This state-of-the-art refinery, which will be developed at a cost of about Rs. 49,000 crore and will produce about 1,200 KTPA (Kilo-Tonnes Per Annum) of ethylene and propylene, which are a vital component for various sectors like textiles, packaging, pharma, among others. This will reduce the country's import dependence and will be a step towards fulfilling the Prime Minister’s vision of 'Aatmanirbhar Bharat'. The mega project will also create employment opportunities and spur the development of downstream industries in the petroleum sector.

In his remarks at the event, Prime Minister Narendra Modi said, “It is our continuous effort that Madhya Pradesh reaches new heights of development, the life of every family in Madhya Pradesh becomes easy and every home brings prosperity. The track record of Modi's guarantee is in front of you”.

Governor of Madhya Pradesh Mangubhai Patel; Chief Minister of Madhya Pradesh Shivraj Singh Chauhan; Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri; and among others were present on the occasion.

Addressing the gathering, Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs said, “This petrochemical plant is a gift from the Prime Minister not only to Bina but to Bundelkhand and Madhya Pradesh.”

Speaking on the occasion, Puri said, "The new petrochemical complex in Bundelkhand region of Madhya Pradesh will promote various downstream units in the field of plastic, packaging material, plastic sheets, and other items of domestic and industrial use. This will lay the foundation of Buland Bundelkhand. "

Recalling the example of the OPAL plant which has contributed to the development of Dahej region of Gujarat, the Union Minister further said that the successful execution of this project will revolutionize industrial development in Madhya Pradesh and the Bundelkhand region in particular and help attain the vision of Viksit Bharat.

Adding to it further, Puri said that this project will also reinforce India's commitment to self-reliance and sustainable industrial growth, positioning the nation as a global leader in the petrochemicals sector. Globally, India ranks 6th in the field of Petrochemical having market potential of approximately Rs. 15.58 lakh crore which is likely to reach Rs. 82 lakh crore by 2040. 

Puri also highlighted the progress since 2014 in the state of Madhya Pradesh on various parameters related to energy infrastructure. He emphasized that the number of retail outlets/petrol pumps in the state have risen from 2,854 in 2014 to 5,938 and LPG distributorships have increased from 866 in 2014 to 1,551 now. The LPG penetration which was at 44% in 2014 has reached 100%. The state has witnessed an increase in PNG Connections from 2,783 in 2014 to 2,15,185 and increase in CNG stations from 15 in 2014 to 275 now. Natural Gas Pipeline has also seen significant progress as its length has increased from 802 km to 6,862 km now.

Speaking on the occasion, G. Krishnakumar, Chairman & Managing Director, Bharat Petroleum Corporation Ltd. said, “Our Rs. 49000 crore investment in the Ethylene Cracker Project at Bina is demonstrative of our firm commitment in expanding BPCL’s energy envelope with a future ready product portfolio in the petrochemical space and becoming a major participant in our Government’s mission of building the country as a globally competitive and preferred manufacturing destination.”

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