+
BPCL Secures Rs 318.02 Bn Loan for Bina Refinery
ECONOMY & POLICY

BPCL Secures Rs 318.02 Bn Loan for Bina Refinery

Bharat Petroleum Corporation (BPCL), a Maharatna energy company, has finalized a loan agreement worth Rs 318.02 billion with a consortium of six lenders, led by the State Bank of India (SBI). The funds will be used to finance BPCL's Rs 489.26 billion Bina Refinery Expansion cum Petrochemical Project.

The project encompasses the construction of a 1.2 million metric tonnes per annum (MMTPA) ethylene cracker unit and the expansion of the refinery’s capacity from 7.8 MMTPA to 11 MMTPA. Once completed, it is expected to reduce India's dependence on imports by producing downstream petrochemical products like Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), and Polypropylene (PP).

During construction, the initiative is projected to generate over 15,000 jobs, while its post-commissioning phase is anticipated to create more than 1 lakh direct and indirect employment opportunities, significantly benefiting the local economy.

BPCL Chairman and Managing Director G. Krishnakumar expressed satisfaction with achieving financial closure for the project, emphasizing its alignment with India's goals to boost industrial growth and infrastructure development. He stated that the project would be a significant milestone in advancing self-reliance in petrochemical products and enhancing the nation’s energy security.

The foundation stone for the project was laid by Prime Minister Narendra Modi on September 15, 2023. SBI Chairman Challa Sreenivasulu Setty highlighted the bank's pride in partnering with BPCL to enhance India’s energy security through the establishment of a world-class petrochemical complex and the refinery’s brownfield expansion. He also noted that the successful financial closure of the Rs 318.02 billion credit facility demonstrated SBI’s ongoing support for critical national projects.

This project represents a significant step in India's journey toward achieving self-sufficiency in polymer products, bolstering energy security, and fostering industrial and infrastructure growth.

Bharat Petroleum Corporation (BPCL), a Maharatna energy company, has finalized a loan agreement worth Rs 318.02 billion with a consortium of six lenders, led by the State Bank of India (SBI). The funds will be used to finance BPCL's Rs 489.26 billion Bina Refinery Expansion cum Petrochemical Project. The project encompasses the construction of a 1.2 million metric tonnes per annum (MMTPA) ethylene cracker unit and the expansion of the refinery’s capacity from 7.8 MMTPA to 11 MMTPA. Once completed, it is expected to reduce India's dependence on imports by producing downstream petrochemical products like Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), and Polypropylene (PP). During construction, the initiative is projected to generate over 15,000 jobs, while its post-commissioning phase is anticipated to create more than 1 lakh direct and indirect employment opportunities, significantly benefiting the local economy. BPCL Chairman and Managing Director G. Krishnakumar expressed satisfaction with achieving financial closure for the project, emphasizing its alignment with India's goals to boost industrial growth and infrastructure development. He stated that the project would be a significant milestone in advancing self-reliance in petrochemical products and enhancing the nation’s energy security. The foundation stone for the project was laid by Prime Minister Narendra Modi on September 15, 2023. SBI Chairman Challa Sreenivasulu Setty highlighted the bank's pride in partnering with BPCL to enhance India’s energy security through the establishment of a world-class petrochemical complex and the refinery’s brownfield expansion. He also noted that the successful financial closure of the Rs 318.02 billion credit facility demonstrated SBI’s ongoing support for critical national projects. This project represents a significant step in India's journey toward achieving self-sufficiency in polymer products, bolstering energy security, and fostering industrial and infrastructure growth.

Next Story
Infrastructure Transport

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Next Story
Infrastructure Urban

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Next Story
Infrastructure Urban

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Open In App