Centre urges MP govt to provide incentives for Bina Refinery expansion

The centre has urged the Madhya Pradesh government to provide additional support for the two-phased expansion programme of Bina Refinery, a joint venture of Bharat Petroleum Corporation Ltd (BPCL) and Oman Oil Corporation Ltd (OOCL).
 
This was discussed in a meeting between Shivraj Singh Chauhan, Chief Minister of Madhya Pradesh; Anant Kumar, Minister for Chemical and Fertilizers; and Dharmendra Pradhan, Minister of State, Petroleum and Natural Gas, on January 14, 2015 in New Delhi.
 
The company is planning to increase the capacity of the Bina refinery from 6 million metric tonne per annum (MMTPA) to 7.8 MMTPA by 2018 at estimated cost of Rs 3500 crores, in the first phase. In the second phase, capacity is proposed to be enhanced to 15 MMTPA at an estimated cost of Rs 18,000-20,000 crores for which pre-feasibility studies will be undertaken in 3 months.
 
“During the meeting, the State Government was requested to provide additional incentives like interest free loan and exemption from CST and Entry Tax etc for the proposed expansions,” said the Ministry of Petroleum & Natural Gas in a press release.