BPCL's Bina Refinery Takes a Leap Forward with Board Approval for Ethylene Cracker Project
- 18-May-2023 1:38 PM
- Journalist: Gabreilla Figueroa
New Delhi: BPCL has announced that its board has granted approval for the Ethylene cracker project at Bina refinery, with a capital expenditure of Rs 49,000 crore. A new project is set to be implemented at Bina refinery which will encompass the development of an Ethylene cracker complex, downstream petrochemical plants, and an expansion of the current refinery capacity from 7.8 MMTPA to 11 MMTPA, alongside its related facilities.
The Board of BPCL has greenlit the establishment of two wind power plants, each with a capacity of 50 MW in Madhya Pradesh and Maharashtra. These plants will serve as captive sources of energy for the Bina and Mumbai refineries, respectively. The estimated cost for the Madhya Pradesh project is about Rs 978 crore while the Maharashtra project is expected to cost around Rs 489 crore.
BPCL announced that it is investing in the development of Petroleum Oil Lubricants (POL) along with receipt pipelines at Rasayani located in Maharashtra. The project will require an estimated cost of around Rs 2,753 crore and aims to enhance the storage capacity, streamline the distribution process, and ensure a seamless supply chain for critical petroleum products.
The oil marketing company is set to announce its Q4 results on May 22 and has already revealed its expansion plan in the petrochemical sector. With the recent drop in crude oil prices, it is expected that OMCs will see an improvement in their results.