State-owned Bharat Petroleum Corporation (BPCL) has approved a 49,000 crore ethylene cracker project at its Bina refinery in Madhya Pradesh. The project will also include the expansion of the refinery's capacity from 7.8 million tonnes per annum (MMTPA) to 11 MMTPA.
The ethylene cracker project is the core component of the expansion and will be used to produce essential petrochemicals. The project will also include the construction of downstream petrochemical plants and associated facilities.
G Krishnakumar, Chairman and Managing Director of BPCL, said, "The approval of the ethylene cracker project is a major milestone for BPCL. It will help us to become a leading player in the petrochemicals sector and meet the growing demand for petrochemical products in India."
The board has also approved the setting up of two 50 MW wind power plants for captive consumption at the Bina and Mumbai refineries. The total project cost for the two wind power plants is approximately Rs 978 crore.
The approval of the ethylene cracker project and the wind power plants is a major investment by BPCL and is in line with the company's strategy to become a leading integrated energy company. The projects are expected to be completed in the next five years and will help BPCL to meet the growing demand for energy and petrochemical products in India.
The ethylene cracker project is expected to create over 10,000 jobs during the construction phase and over 5,000 jobs during the operational phase. The project is also expected to generate significant revenue for the government and boost the local economy.
