PM lays foundation stone for Rs. 49,000 Cr petrochem project in MP

Prime Minister Narendra Modi laid the foundation stone for Rs. 49,000 crore petrochemicals project at Bharat Petroleum Corporation Ltd’s (BPCL) Bina Refinery in Madhya Pradesh. The Project involves increase in BPCL’s Bina Refinery capacity from 7.8 MMTPA to 11 MMTPA.

“The entire project will be completed in 5 years and will save Forex outgo of Rs. 20,000 crores per annum, through import substitution, contributing to Atmanirbhar Bharat mission of making the country self-reliant in petrochemical production,” an official statement issued by BPCL said.

Addressing the gathering, the Prime Minister said, “Petrochemical Complex at Bina refinery will spur growth in the entire region and take development to new heights.” He also mentioned that it will not only give rise to new industries but benefit the small farmers and entrepreneurs and create thousands of opportunities for the youth.

Speaking on the occasion, G. Krishnakumar, CMD, BPCL said, “Our Rs. 49,000 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.”