Bina, Madhya Pradesh, September 14, 2023 – In a significant development for the state of Madhya Pradesh and the Bundelkhand region, Prime Minister Shri Narendra Modi inaugurated the foundation stone laying ceremony for the Downstream Petrochemical Complex and Refinery Expansion Project at BPCL’s Bina Refinery.
With an estimated investment of approximately Rs. 49,000 crores, this state-of-the-art refinery is set to produce 1200 Kilo-Tonnes Per Annum (KTPA) of ethylene and propylene, essential components for various industries including textiles, packaging, and pharmaceuticals. The project is poised to reduce India’s reliance on imports, aligning with the Prime Minister’s vision of ‘Aatmanirbhar Bharat’ (self-reliant India). Additionally, the initiative is expected to generate employment opportunities and foster the growth of downstream industries in the petroleum sector.
Addressing the audience, Prime Minister Shri Narendra Modi expressed his commitment to the progress of Madhya Pradesh, stating, “It is our continuous effort that Madhya Pradesh reaches new heights of development, the life of every family in Madhya Pradesh becomes easy, and every home brings prosperity.” He highlighted the government’s achievements, including the construction of 40 lakh pucca houses for the underprivileged, providing toilets, free medical treatment, bank accounts, and smokeless kitchens. He also mentioned the recent reduction in gas cylinder prices, ensuring that more women benefit from affordable cooking fuel.
Prime Minister Modi emphasized the government’s dedication to fulfilling its promises and eliminating middlemen to ensure beneficiaries receive the full benefits of various schemes. He cited the success of the PM Kisan Samman Nidhi scheme, where farmers received direct transfers of Rs 28,000 to their bank accounts, amounting to over Rs 2,60,000 crores in expenditure over nine years. Additionally, the Prime Minister noted efforts to reduce agricultural costs, providing Indian farmers with access to affordable fertilizers, such as urea, which is now available for less than Rs 300 per bag compared to its previous cost of up to Rs 3000.
The event was graced by the presence of the Governor of Madhya Pradesh Shri Mangubhai Patel, Chief Minister Shri Shivraj Singh Chauhan, and Union Minister for Petroleum and Natural Gas, Shri Hardeep Singh Puri, among others.
Speaking at the ceremony, Minister of Petroleum & Natural Gas and Housing & Urban Affairs, Shri Hardeep Singh Puri, referred to the petrochemical plant as a gift from the Prime Minister to not only Bina but also to the entire Bundelkhand and Madhya Pradesh region. He highlighted the potential of the new petrochemical complex to boost downstream industries, including plastic, packaging materials, plastic sheets, and other domestic and industrial products, thereby laying the foundation for a prosperous Bundelkhand.
Drawing parallels with the successful OPAL plant in Gujarat’s Dahej region, Shri Puri expressed confidence that this project would revolutionize industrial development in Madhya Pradesh and the Bundelkhand region, aligning with the vision of Viksit Bharat (Developed India). Moreover, he emphasized that this project would reinforce India’s commitment to self-reliance and sustainable industrial growth, positioning the nation as a global leader in the petrochemicals sector. India ranks sixth in the worldwide petrochemical industry, with market potential expected to reach approximately Rs. 82 lakh crore by 2040.
Shri Hardeep Singh Puri also highlighted India’s resilience in the face of global oil and gas industry volatility, underscoring the government’s commitment to providing stable energy supplies. Unlike many other countries, India has maintained a consistent supply of oil and gas over the past two years without significant price increases, benefiting its citizens.
In addition to these developments, Shri Hardeep Singh Puri shared the remarkable progress made in Madhya Pradesh’s energy infrastructure since 2014, including a substantial increase in retail outlets/petrol pumps, LPG distributorships, PNG connections, CNG stations, and the expansion of the natural gas pipeline network. These advancements are indicative of the government’s commitment to delivering energy security and prosperity to the state.