Bharat Petroleum gets MP state government approval for refinery expansion

Bharat Petroleum will invest 430 billion rupees ($5.27 billion) to 500 billion rupees for the two projects, adding that the petrochemical project would start production by fiscal year 2027-28

bharat petroleum, petrol, diesel — Photo: Bloomberg

Reuters BENGALURU

1 min read Last Updated : Apr 14 2023 | 3:09 PM IST

BENGALURU (Reuters) - Indian state-owned oil marketing company Bharat Petroleum Corporation Ltd on Friday said it had received approval from the Madhya Pradesh state government for expanding its Bina refinery and setting up a petrochemical project.

Bharat Petroleum will invest 430 billion rupees ($5.27 billion) to 500 billion rupees for the two projects, adding that the petrochemical project would start production by fiscal year 2027-28.

($1 = 81.6580 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Devika Syamnath)

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