Tuesday, February 27, 2024

Narendra Modi

September 13, 2023 9:27 AM IST

PM to lay foundation stone of Petrochemicals Complex & Refinery Expansion Project in MP

PM Modi | Atmanirbhar Bharat | Madhya Pradesh

PM Modi will lay the foundation stone of the Downstream Petrochemical Complex and Refinery Expansion Project, at BPCL’s Bina Refinery in Bina, Madhya Pradesh, on 14th September 2023.

In line with the aspirations of New Bharat, BPCL has envisioned modern Petrochemical Complex in its BINA REFINERY at Bina, Sagar, Madhya Pradesh. An investment of Rs 49,000 Crore would bring prosperity and happiness to the entire region of Bundelkhand. Under this Project, the capacity of Bina Refinery would be enhanced to 11 MMTPA which would produce more than 2200 Kiloton petrochemical products. The entire project would be completed in five years. The Ethylene Cracker Complex will use captive feedstock like Naphtha, LPG, Kerosene, etc. from Bina Refinery.

Once completed the Petrochemical Complex would bring many diversified employment opportunities to the young entrepreneur of the Bundelkhand region. This Petrochemical Complex would open the door for various downstream business manufacturing units in the field of Plastic, Pipes, Packaging material, plastic sheets, Automobile parts, Medical equipment, molded furniture, and other items of domestic and industrial use.

Govt. of Madhya Pradesh has been supporting the project by providing fiscal incentives under SGST refund, Interest-free loans & interest subsidy assistance, Concessional Power, Exemption of Stamp Duty, etc.

The investment shall result in creating more than 1 lakh direct or indirect employment opportunities along with savings of foreign exchange worth Rs 20,000 crore per annum.

Apart from the above, there will be large employment generation potential in downstream industries, ancillaries, and service units.

The project is aligned with India’s aspiration of Atmanirbhar Bharat by establishing a global manufacturing hub for chemicals & petrochemicals while moving towards realizing the goal of making India a 5 trillion-dollar economy.

In addition to polymers, there will be the production of aromatics (Benzene, Toluene & Mixed Xylene) from the complex, which have major usage in downstream industries, ancillaries, and service units like –

Lamination films, bubble & stretch wraps, shipping sacks, housewares, lids, shopping baskets, drip irrigation tubing, toys, etc.

Multilayer films, garbage bags, raffia bags, housewares, storage bins, water tanks, crates, luggage, industrial containers, pipes for gas & water, cable sheathing, etc.

BOPP films, automobile parts, furniture, housewares, woven fabrics, jumbo bags, raffia bags, rigid packaging, food packaging, storage containers, paint pails, pipes, etc.

Production of petrochemicals/ chemicals (Styrene, Phenol, Acetone, Cumene, Nitrobenzene, Aniline, etc.), applications in paint, pharma & automotive industries.

This project will catalyze industrial development in the state of MP and the entire Bundelkhand region with easy access to petrochemical feedstock. It will enable the Government’s vision of setting up ‘Petroleum Chemicals and Petrochemicals Investment Region (PCPIR)’ in the State, which will attract major investments in segments such as films, fibers, injection molding, blow molding, pipes, conduits, automobile parts, etc.

 

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