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India’s Bharat Petroleum to invest in Bina refinery

by ChemOrbis Editorial Team -
  • 15/07/2015 (11:45)
According to media reports, India’s Bharat Petroleum Corporation Limited (BPCL) is planning to invest in India’s Bina refinery which is a joint venture between Oman’s state owned Oman Oil Company (OOC), BPCL and a number of Indian financial institutions. OOC has a 26% stake in Bharat Oman Oil Refineries (BORL), located in Bina, while BPCL holds a 49% stake in the joint venture.

The investment value was reported at $4 billion while BCPL will initially spend $550 million for the expansion of the refinery. The company is currently able to process 6 million tons of oil per year while its capacity is set to increase to 7.8 million tons/year of oil by 2018. The remaining investment value, meanwhile, is slated to be spent for the second expansion phase of the refinery to increase the refinery’s capacity to 15 million tons/year within the next 5-6 years.
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