Sagar/Bina (Madhya Pradesh) [India], September 15: Prime Minister Narendra Modi laid the Foundation Stone for Rs 49,000 Crore Petrochemicals project at BPCL's Bina Refinery in Madhya Pradesh yesterday. The Project involves increase in BPCL's Bina Refinery capacity from 7.8 MMTPA to 11 MMTPA.
During the construction phase project will generate over 15,000 employments, while post commissioning, through downstream investments, will help generate more than 1 lakh direct and indirect employment.
The entire project will be completed in 5 years and will save Forex outgo of Rs 20,000 Crores per annum, through import substitution, contributing to Atma Nirbhar Bharat mission of making the country self-reliant in petrochemical production.
Addressing the gathering, Prime Minister Narendra Modi said, "I guarantee you that the Petrochemical Complex at Bina Refinery will spur growth in the entire region and take development to new heights." Prime Minister also mentioned that it will not only give rise to new industries but benefit the small farmers and entrepreneurs and create thousands of opportunities for the youth.
The foundation laying ceremony witnessed the dignified presence of Chief Minister, Madhya Pradesh, Shivraj Singh Chouhan, Minister of PNG & Housing and Urban Affairs Hardeep Singh Puri, public representatives in MP and senior officials from the Government of India, MP Government and senior management of BPCL.
Before the Foundation Stone laying, Prime Minister Narendra Modi was appraised about the current and forthcoming infrastructure at Bharat Petroleum's Bina Refinery by G. Krishnakumar, C&MD and Sanjay Khanna, Director Refineries, in presence Pankaj Jain, Secretary of MOP&NG, at the specially created exhibition, which showcased the remarkable impact the refinery has made on Madhya Pradesh's economy and provided key insights into the project's highlights.
Speaking on the occasion, G. Krishnakumar, Chairman & Managing Director, Bharat Petroleum Corporation Ltd. said, "Our Rs 49000 crore investment in the Ethylene Cracker Project at Bina is demonstrative of our firm commitment in expanding BPCL's energy envelope with a future ready product portfolio in the petrochemical space and becoming a major participant in our Government's mission of building the country as a globally competitive and preferred manufacturing destination."
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