BPCL Secures Financial Closure for Bina Refinery Expansion

BPCL achieves financial closure for its Bina Refinery Expansion cum Petrochemical Project, securing a ₹31,802 crore loan. The project, aimed at reducing import dependence, will significantly boost local employment and infrastructure development. This aligns with India's strategy for industrial growth and energy security.

Bharat Petroleum Corporation Limited (BPCL), a leading energy company, has successfully secured financial closure for its ambitious Bina Refinery Expansion cum Petrochemical Project. A ₹31,802 crore loan agreement was signed with a consortium of six lenders headed by the State Bank of India, highlighting significant progress in the project's execution.

The undertaking, with an estimated cost of ₹48,926 crore, seeks to establish a petrochemical complex that includes a 1.2 MMTPA ethylene cracker unit. The refinery's capacity will rise from 7.8 MMTPA to 11 MMTPA, enabling BPCL to produce various petrochemical products, thereby reducing India's reliance on imports.

The project is anticipated to generate substantial employment during construction and post-commissioning. Once finished, it will support India's broader strategy for industrial growth and self-sufficiency in petrochemical products, further securing energy resources and enhancing local economic development.

(With inputs from agencies.)