The public sector undertaking Bharat Petroleum on Tuesday said that its broad has approved the ethylene cracker project at Bina Refinery including downstream petrochemical plants and expansion of the refinery with capital expenditure of approximately Rs 49,000 crore.
As per the exchange filing, the board has also approved the setting of two 50 MW wind power plants for captive consumption, one at Bina refinery in Madhya Pradesh and another in Maharashtra at Mumbai. The total cost of setting up two wind power plants is approximately Rs 978 crore.
The board has also approved the Rs 1,903 crore project of putting up Petroleum Oil Lubricants (POL) and Lube Oil Base Stock (LOBS) storage installations with receipt pipelines at Rasayani in Maharashtra.
The progress and completion of the above projects would depend on various factors including clearances from statutory authorities if required, it added.
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