NEW DELHI: BHARAT Petroleum Corporation Limited (BPCL) has signed a loan agreement worth R 31,802 crore with a consortium of six lenders led by the State Bank of India. The project, estimated to cost R 48,926 crore, aims to establish a petrochemical complex, including a 1.2 million metric tonnes per annum (MMTPA) ethylene cracker unit and an expansion of the refinery’s capacity from 7.8 MMTPA to 11 MMTPA.
This expansion will enable BPCL to produce downstream petrochemical products such as Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), Polypropylene (PP), and other aromatics, significantly reducing India’s dependence on imports.
“We are delighted to achieve financial closure for our Bina Refinery Expansion cum Petrochemical Project, which aligns with India’s broader strategy to boost industrial growth, infrastructure development, and increased industrial activity,” said G Krishnakumar, Chairman & Managing Director, BPCL. “Upon completion, it will mark a significant milestone towards attaining Atma Nirbharata in petrochemical products and enhancing the energy security of the nation.”