Bharat Petroleum Corporation Limited (BPCL) has entered into a ₹31,802-crore loan agreement with a consortium of banks led by the State Bank of India (SBI).
Other members of the consortium include Punjab National Bank, Union Bank of India, Canara Bank, Bank of India, and Export-Import Bank of India.
The funding will support BPCL’s ambitious plans to expand its refinery and establish a petrochemical complex in Bina, Madhya Pradesh.
Petrochemical Complex to Produce Key Polymers
BPCL’s proposed petrochemical complex will focus on manufacturing a range of downstream polymers and products.
These include Linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), polypropylene (PP), benzene, toluene, and mixed xylene.
The facility is will cater to the growing demand for these crucial materials in various industries.
Refinery Capacity Expansion
In addition to the petrochemical complex, BPCL will also undertake a brownfield expansion of its refinery in Bina.
The project will increase the refinery’s capacity from 7.8 million tons per annum (MTPA) to 11 MTPA.
The expansion designers aim to meet the feedstock requirements of the petrochemical plants. It ensures seamless integration between the refinery and the new complex.
Strategic Vision for Growth
With these projects, BPCL aims to strengthen its position in the petrochemical sector and enhance its refining capabilities.
As reported by thehindu.com, the company has secured a significant loan. By partnering with leading financial institutions, they are now set to drive industrial growth and meet rising market demands.
