New Delhi, May 17 : Public sector oil major BPCL on Wednesday announced Rs 49,000 crore capex plan with the core component of the expansion project being the ethylene cracker project.
The company said that the project encompasses the establishment of an ethylene cracker (EC) complex, downstream petrochemical plants, as well as the expansion of the existing refinery capacity from 7.8 MMTPA to 11 MMTPA and associated facilities at Bina Refinery (Madhya Pradesh).
It noted that Bina refinery expansion will meet the growing demand of petroleum products in central and northern India while also providing necessary feedstock to the EC complex.
“Combined with our investment in Wind Energy and new age Petroleum Oil Lubricants installations built for sustainable processes, this is a watershed moment in our strategic endeavor to be at the forefront in meeting the rapidly growing demand for energy and Petrochemical products in India,” said G Krishnakumar, C&MD, BPCL.
BPCL said that the proposed expansion project aligns with its vision to diversify and expand in adjacent and alternative businesses to create additional revenue streams and cleaner environment by building the renewable energy portfolio.