BPCL Secures INR 32,000 Cr. Loan for Bina Refinery expansion

Bharat Petroleum has secured a loan of Rs. 31,802 crore from an SBI-led bank consortium. These funds will be used to partly finance the Rs. 49,000 crore expansion of Bina Refinery in Madhya Pradesh. BPCL will develop a 1.2 MMTPA Petrochemical project at Bina, and will expand Bina Refinery’s capacity to 11 MMTPA from the current 7.8 MMTPA in the next 3-4 years. Once complete, this expansion is expected to generate 1 lakh direct and indirect employment opportunities. Moreover, during the construction phase, about 15,000 jobs are expected to be created through this expansion.