On September 14, 2023, BPCL is set to commence the foundation-laying ceremony for the INR 4.9 trillion petrochemical complex and refinery expansion project at the Bina Refinery in Madhya Pradesh. Prime Minister Narendra Modi is expected to grace the occasion with his presence.
BPCL’s vision for the Bina Refinery in Madhya Pradesh aligns with the aspirations of New Bharat. This substantial investment of INR 4.9 trillion is anticipated to bring prosperity and happiness to the entire Bundelkhand region.
As part of this project, the Bina Refinery’s capacity will be significantly expanded to 11 million metric tons per annum (MMTPA), enabling the production of over 2,200 Kilotons of petrochemical products. The entire project is slated for completion within five years. The Ethylene Cracker Complex will utilize captive feedstock, including Naphtha, LPG, and Kerosene, from the Bina Refinery.
Upon completion, the Petrochemical Complex is expected to generate a multitude of diverse employment opportunities for the youth in the Bundelkhand region. Furthermore, it will pave the way for various downstream manufacturing units in sectors such as plastic, pipes, packaging materials, plastic sheets, automobile components, medical equipment, molded furniture, and other domestic and industrial products.
The Government of Madhya Pradesh has extended its support to the project by providing fiscal incentives such as SGST refunds, interest-free loans, interest subsidy assistance, concessional power, and stamp duty exemptions, among others.
This significant investment is poised to create more than 100,000 direct and indirect job opportunities while also saving foreign exchange worth INR 2 trillion annually.
In addition to polymers, the complex will produce aromatics like Benzene, Toluene, and Mixed Xylene, which find extensive usage in downstream industries, ancillaries, and service sectors such as lamination films, bubble wraps, shipping sacks, housewares, and more. These products will be utilized in the manufacturing of multilayer films, garbage bags, industrial containers, pipes, and various other items.
The project’s scope extends to the production of BOPP films, automobile components, furniture, woven fabrics, packaging materials, and more. It also includes the production of petrochemicals/chemicals like Styrene, Phenol, Acetone, Cumene, Nitrobenzene, and Aniline, which are crucial for the paint, pharmaceutical, and automotive industries.
This endeavor is poised to catalyze industrial development in Madhya Pradesh and the entire Bundelkhand region, offering convenient access to petrochemical feedstock. Furthermore, it will facilitate the realization of the government’s vision to establish a ‘Petroleum Chemicals and Petrochemicals Investment Region (PCPIR)’ in the state, attracting significant investments in various segments such as films, fibers, injection molding, pipes, and automobile components.