Madhya Pradesh, India :- In a significant milestone for India’s energy and petrochemical sector, Prime Minister Shri Narendra Modi inaugurated the foundation stone-laying ceremony for a monumental Rs. 49,000 Crore Petrochemicals Project at BPCL’s Bina Refinery in Madhya Pradesh. This ambitious project marks a pivotal moment in the country’s journey towards self-reliance in petrochemical production.
The project’s primary objective is to boost BPCL’s Bina Refinery’s capacity from 7.8 Million Metric Tonnes Per Annum (MMTPA) to an impressive 11 MMTPA. This expansion promises not only economic growth but also job creation on a substantial scale.
During the construction phase, the project is anticipated to generate over 15,000 employment opportunities. Furthermore, once the project is commissioned, downstream investments are expected to create more than 1 lakh direct and indirect jobs. This employment boost is set to have a significant socio-economic impact, especially in the region surrounding the refinery.
One of the project’s key benefits is its contribution to India’s foreign exchange savings, estimated at Rs. 20,000 Crores per annum, through import substitution. This aligns perfectly with the Atma Nirbhar Bharat mission, reinforcing India’s commitment to self-reliance in critical sectors like petrochemicals.
Prime Minister Modi, addressing the gathering, emphasized the far-reaching impact of the Petrochemical Complex at Bina Refinery, stating, “I guarantee you that the Petrochemical Complex at Bina Refinery will spur growth in the entire region and take development to new heights.” He further highlighted that the project would not only foster new industries but also benefit small farmers, entrepreneurs, and provide numerous opportunities for the youth.
The foundation-laying ceremony witnessed the presence of dignitaries including Chief Minister of Madhya Pradesh, Shri Shivraj Singh Chouhan, Minister of PNG & Housing and Urban Affairs Shri Hardeep Singh Puri, public representatives in Madhya Pradesh, and senior officials from the Government of India, Madhya Pradesh Government, and BPCL’s senior management.
Before the foundation stone-laying, Prime Minister Modi was briefed about the current and forthcoming infrastructure at Bharat Petroleum’s Bina Refinery by Shri G. Krishnakumar, Chairman & Managing Director, and Shri Sanjay Khanna, Director Refineries, in the presence of Shri Pankaj Jain, Secretary of MOP&NG. An exhibition showcased the refinery’s remarkable impact on Madhya Pradesh’s economy and provided insights into the project’s highlights.
In his remarks, Mr. G. Krishnakumar, Chairman & Managing Director, Bharat Petroleum Corporation Ltd., emphasized, “Our Rs. 49,000 crore investment in the Ethylene Cracker Project at Bina demonstrates our firm commitment to expanding BPCL’s energy portfolio in the petrochemical space. This project aligns with our Government’s mission to position India as a globally competitive and preferred manufacturing destination.”
The completion of this ambitious project over the next five years promises to not only transform India’s petrochemical landscape but also fuel economic growth, job creation, and self-reliance, aligning with the nation’s vision for a prosperous and self-sufficient future.
