BPCL is negotiating a $3.8 billion loan with Indian banks to expand its Bina refinery as part of a major capacity boost.
India ’s state-controlled refiner Bharat Petroleum Corporation Ltd
is in talks with major local banks to secure a loan of about $3.8 billion which it will use to expand the capacity of one of its refineries, Bloomberg reported on Friday, quoting sources with knowledge of the discussions. is looking to raise around $3.8 billion 320 billion Indian rupees from lenders to boost the capacity of its Bina refinery in the Madhya Pradesh state in central India, according to Bloomberg’s sources. The refiner has planned to invest a total of $5.8 billion 490 billion rupees to add an ethylene cracker unit at the Bina refinery as
and other Indian refiners are looking to raise their petrochemicals production capacities. If obtains the loan from the local banks, this would be the largest loan in Indian rupees in the country so far this year, per data compiled by Bloomberg. Bank of India, Punjab National Bank, and Bank of Baroda are some of the lenders with which the refiner is in talks for the loan, which is expected to have a 15-year maturity. India has said it expects to raise its refining capacity by around 1.12 million barrels per day bpd each year until 2028 as it seeks to meet rising fuel demand.
India Refinery Expansion Bina Refinery Loan Petrochemicals Indian Banks $3.8 Billion Refining Capacity Oil Demand
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