India’s state-owned Bharat Petroleum Corp Ltd (BPCL) plans to invest rupee (Rs) 430bn-500bn ($5.2bn-6.1bn) to expand its Bina refinery and build a petrochemical complex at the site in the central Madhya Pradesh state.
BPCL has received necessary approvals from the Madhya Pradesh state government for the project, the company said in a regulatory filing to the Bombay Stock Exchange (BSE) on 14 April.
The planned petrochemical complex is expected to produce linear low density polyethylene (LLDPE), high density polyethylene (HDPE), polypropylene (PP), bitumen, benzene as well as gasoline, diesel and aviation turbine fuel, it said in its statement.
The company expects to commission the project by the fiscal year ending March 2028, it added.
In a June 2022 report to the Ministry of Environment, Forests and Climate Change, BPCL stated plans to expand the capacity of its Bina refinery by more than half to 12m tonnes/year from 7.8m tonnes/year, it said
The planned petrochemical complex will have a cracker with a 1.2m tonne/year ethylene capacity; a 650,000 tonne/year LLDPE/HDPE swing plant; a 500,000 tonne/year HDPE unit; a 650,000 tonne/year polypropylene (PP) line; and a 50,000 tonne/year butene-1 unit, based to the report.
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