Prime Minister Shri Narendra Modi is set to inaugurate the groundbreaking ceremony for the Downstream Petrochemical Complex and Refinery Expansion Project at BPCL’s Bina Refinery in Bina, Madhya Pradesh, on September 14, 2023.
This ambitious project aligns with BPCL’s vision for a modern Petrochemical Complex within its Bina Refinery, located in Bina, Sagar, Madhya Pradesh. With an investment of Rs 49,000 Crore, it promises to usher in prosperity and development to the entire Bundelkhand region. The expansion will increase the Bina Refinery’s capacity to 11 MMTPA, producing over 2200 Kilotons of petrochemical products. The entire project is slated for completion within five years, utilizing feedstock like Naphtha, LPG, Kerosene, and more from Bina Refinery for the Ethylene Cracker Complex.
Notably, this project is expected to generate diverse employment opportunities for the youth of Bundelkhand. The Petrochemical Complex will pave the way for downstream manufacturing units specializing in various products such as plastics, pipes, packaging materials, plastic sheets, automobile parts, medical equipment, molded furniture, and other domestic and industrial items.
The Government of Madhya Pradesh has extended support to the project through fiscal incentives, including SGST refunds, interest-free loans, interest subsidies, concessional power, and stamp duty exemptions.
The investment is projected to create more than 1 lakh direct and indirect job opportunities, in addition to saving foreign exchange worth Rs 20,000 crore annually. The downstream industries, ancillaries, and service units are expected to witness substantial employment generation potential.
Furthermore, this initiative is in line with India’s vision of Atmanirbhar Bharat, aiming to establish a global manufacturing hub for chemicals and petrochemicals, contributing to the goal of making India a 5 trillion-dollar economy.
The Petrochemical Complex will also produce aromatics such as Benzene, Toluene, and Mixed Xylene, which find extensive usage in downstream industries, ancillaries, and service units, including lamination films, bubble and stretch wraps, automobile parts, and more.
This project is poised to catalyze industrial development in Madhya Pradesh and the entire Bundelkhand region by providing easy access to petrochemical feedstock. It paves the way for the establishment of a ‘Petroleum Chemicals and Petrochemicals Investment Region (PCPIR)’ in the state, attracting significant investments in various segments such as films, fibers, injection molding, blow molding, pipes, conduits, automobile parts, and more.
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