Work begins on Rs 10,300-cr Bina Refinery

Bhopal, May 7 : Construction work has commenced on the Bina Oil Refinery to be set up by BPCL at Sagar district's Agasod village at a cost of Rs 10,300 crore.

During the next three years, the refining process will begin and the plant is expected to bring about a revolutionary change in the socio-economic scenario of Bundelkhand region that has long been backward, an official release said here today.

Initially, Rs 55 crore have been made available for undertaking work in the first phase for this BPCL-Oman Oil venture. In this phase, work on the refinery's boundary walls, hostel, roads and staff quarters are being taken up. The state government has allotted 2,400 acres. The unit would also produce asphalt, naphtha and others.

Central sales tax and commercial tax on crude oil have been exempted for 16 years. Besides, entry taxes for material to be used in construction and plant machinery have been exempted, the release added.

UNI