Bharat Petroleum Corporation Limited (BPCL) has announced the execution of a Rs. 31,802 crore loan agreement with a consortium led by the State Bank of India. This financing will support the development of a petrochemical complex and the expansion of the refinery capacity at Bina, Madhya Pradesh.
Key details:
- Project highlights: The loan will fund the establishment of a petrochemical complex producing downstream products like Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), Polypropylene (PP), and other petrochemical derivatives. Additionally, the Bina refinery’s capacity will be increased from 7.8 MMTPA to 11 MMTPA.
- Consortium members: Along with SBI, the consortium includes Punjab National Bank, Union Bank of India, Canara Bank, Bank of India, and the Export-Import Bank of India.
- Security arrangement: The loan is secured by a first-ranking pari passu charge on project land, tangible fixed assets, designated accounts, and other critical project documents.
This strategic investment aligns with BPCL’s goals to enhance its petrochemical footprint and cater to growing domestic and global demands.
