You are here : MPBLSkip Navigation Links>Home>News
SocialTwist Tell-a-Friend Bookmark and Share

News & Views

With PM's blessings, Bina refinery now a reality
Posted: Friday, 20 May 2011 at 9:45 PM
Post a comment

The prestigious Rs 12,000 crore Bharat Oman Refinery Ltd (BORL) finally became an operational reality on Friday when it was dedicated to the nation by Prime minister Manmohan Singh. It is the state’s first refinery to meet the latest international emission standards, Euro IV. 

BORL, it may be recalled, is a joint venture between the Bharat Petroleum Company Ltd (BPCL) and the Oman Oil Company. 

A battery of leaders was in attendance at the inaugural. Among them were Central ministers Kamal Nath, Jyotiraditya Scindia, Jaipal Reddy, and Arun Yadav. Governor Rameshwar Thakur was also present on the dias.

Dr Singh (who co-incidentally had also laid the foundation stone of the project during his stint as Union finance minister in 1993) said the world class refinery would provide jobs to at least 5,000 people besides substantially boosting MP’s revenues. Development in the industry starved Bundelkhand region would thus get a much expected fillip.  

The PM said recurring dry spells in the Bundelkhand region had been a serious cause of concern. To mitigate the sufferance of locals a Bundelkhand package was released in 2009 in which stress was laid on soil and water conservation to boost agricultural and animal husbandry related activities. The package, however, would not bear fruit unless the Central and state governments worked in tandem.

The PM said BORL was the first grassroots refinery in this part of the country. To meet the requirements of a fast growing economy, the country would need adequate energy at reasonable cost. Since hydro carbons would continue to be a major energy source, sizable refining capacity was a must. Indigenous refining capacity, the PM informed, had risen from 620 lakh tonnes in 1998 to 1,870 lakh tonnes. Efforts were now being made to further augment this to 2,380 tonnes by 2012.  

BORL now has a 26 per cent equity interest by Oman Oil (up from two per cent till 2009), the MP government one per cent, the rest being held by the BPCL. The plant is being touted as an exemplar of India’s growing economic ties with the Sultanate of Oman.  

Dr Singh said India wasn’t just self-reliant in refined petroleum products but had also emerged as a major exporter. In 2010-11 India exported 560 lakh tonnes of petroleum products which earned it much foreign exchange. Efforts to discover new hydro carbon deposits were being intensified. The PM also stressed the need to apply the latest technologies in exploration and oil and gas production.    

Chief minister Shivraj S. Chouhan, who was also present, used the occasion to make a pitch for a special development package for Madhya Pradesh which the PM clean ignored in his speech.

Mr Chouhan sought to remind the BORL bosses to honour the terms of the original MoU in letter and spirit under which 60 per cent of the jobs were to be provided to locals. Failure to keep the commitment would disappoint locals. Should the company need skilled workers, training could be imparted. Efforts were being made by the state government to develop Bina as a model industrial area, and a Bhopal-Bina corridor was also in the pipeline, he informed.

The state government, he said, had kept its side of the bargain to make the refinery a reality. This included providing 2,300 acres of land plus a 15 year exemption from entry tax, stamp duty etc.

The 120,000 barrels per day capacity refinery can produce six million tonnes of petroleum products annually, especially diesel for the local market in addition to smaller quantities of jet fuel and gasoline. The complex was commissioned earlier this year.

Feedstock for the project, to be sourced from Bina, will be supplied by an overland pipeline that runs 935 kms from Gujarat’s Vadinar port. Crude oil will be supplied by a clutch of central Asian producers. BPCL recently announced plans to raise the refinery capacity from six to nine mmpta, and eventually 15 mmpta depending on the availability of basic resources like water.

The expansion is proposed to coincide with the plant’s first major turnaround in three years. To help fund the Phase 1 expansion, BPCL is planning an IPO with a 25 per cent equity share in BORL.

0 Comment(s)

Be the first to comment

Post a Comment
Name Email  ID
Maximum characters allowed
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
  other headlines

Mined Out Of Korba
Posted: Monday, 4 Jan 2016 at 7:15 PM
A please-all surplus budget
Posted: Thursday, 26 Feb 2015 at 6:04 PM
Modi shadow in Chouhan win
Posted: Friday, 13 Dec 2013 at 6:52 PM
Are MP farmers better off today than 5 years ago?
Posted: Wednesday, 10 July 2013 at 4:51 PM
Raghav ji's election year budget
Posted: Saturday, 23 Feb 2013 at 7:35 PM
Focus on small, medium industry, CM tells summit
Posted: Monday, 29 Oct 2012 at 2:52 PM
Paralysis, petrifaction, incompetence!
Posted: Tuesday, 21 Aug 2012 at 1:20 PM
Industry: Condemned to play catch-up
Posted: Monday, 18 June 2012 at 6:32 PM
Farmers' protests a problem of plenty
Posted: Wednesday, 16 May 2012 at 3:08 PM
Army paying for Nehru's follies
Posted: Wednesday, 18 April 2012 at 1:13 AM
A please all Budget which may please few
Posted: Tuesday, 28 Feb 2012 at 10:59 PM
Electoral reforms hold the key
Posted: Monday, 20 Feb 2012 at 1:59 AM
More industry boosting measures approved
Posted: Wednesday, 11 Jan 2012 at 7:57 PM
First make CBI a 'legal' entity
Posted: Saturday, 31 Dec 2011 at 11:55 AM
Police autonomy a must
Posted: Tuesday, 29 Nov 2011 at 9:33 AM
Focus on good governance alone can check graft
Posted: Thursday, 15 Sep 2011 at 9:32 AM
'Caste' of service blight of Indian bureaucracy
Posted: Monday, 1 Aug 2011 at 5:04 PM
World Bank MD invites Shivraj to DC
Posted: Thursday, 23 June 2011 at 9:42 PM
Like a bad dream, SIMI resurfaces
Posted: Sunday, 12 June 2011 at 5:55 PM
Have Bhopal's gas NGOs become a vested interest?
Posted: Monday, 30 May 2011 at 11:05 AM


Mail this Page
Recipient(s) name :
(seperate by ; for multiple Recipient(s))
Recipient(s) email address :
(seperate by ; for multiple Recipient(s) email)
Your name :
Your email address :
Comments(optional) :
Feedback | Register | Contact Us | Privacy Policy
19 Jan 2019
Copyright © 2010, Madhya Pradesh Business Line. All rights reserved.

Developed & Designed By C-Net Infotech Pvt. Ltd., Bhopal (M.P.)