Bina Refinery expansion: PM Narendra Modi lays foundation for Rs 4,900cr project
Indian Prime Minister Narendra Modi has inaugurated Bharat Petroleum Corporation Limited (BPCL)’s Bina refinery expansion project in Madhya Pradesh, with an investment of INR 4,900 Crores ($5.9bn). Initially announced in May 2023, the project aims to address rising demand for petroleum products in central and northern India.
BPCL Aims to Produce 1,200 KTPA of Ethylene and Propylene
The Bina refinery expansion is designed to annually produce nearly 1,200 kilo-tonnes (KTPA) of ethylene and propylene. These compounds are crucial for various sectors including textiles, pharmaceuticals, and packaging. BPCL disclosed that the central feature of the project is the ethylene cracker, designed to enhance production of essential petrochemicals. The company also plans to establish downstream petrochemical plants and related facilities.
From 7.8 mmtpa to 11 mmtpa: Aiming for Higher Production Capacities
The initiative will increase the Bina refinery’s existing capacity from 7.8 million tonnes per annum (mmtpa) to 11 mmtpa. BPCL expects the expansion to supply the requisite feedstock for the ethylene cracker complex, while simultaneously catering to increasing domestic demand for petrochemical products.
Alignment with India’s ‘Aatmanirbhar Bharat’ and Global Petrochemical Positioning
According to the Indian Ministry of Petroleum & Natural Gas, this expansion will align with the Prime Minister’s ‘Aatmanirbhar Bharat’ initiative by reducing India’s dependency on imports. “I guarantee you that the Petrochemical Complex at Bina Refinery will spur growth in the entire region and take development to new heights,” said Prime Minister Modi. Indian Petroleum & Natural Gas Minister Hardeep Singh Puri emphasized that the project would not only solidify India’s commitment to sustainable industrial expansion but also position the country as a global leader in the petrochemical sector. Currently, India ranks sixth globally in the petrochemical industry with a market potential of around INR 1,558 Crores, expected to reach INR 8,200 Crores by 2040.