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Work on Bina oil refinery in full swing

Lalit Shastri

Babulal Gaur inspects progress at site

BINA (MADHYA PRADESH): Work on the ambitious six million tonnes Bina oil refinery complex in Madhya Pradesh being set up by Bharat Oman Refineries Ltd. (BORL) is now progressing on schedule.

BORL has been promoted by Bharat Petroleum Corporation. Oman Oil Company's equity share in this venture is said to be 3.3 per cent. The project was earlier held up due to delays in environmental clearance as well as on grounds of viability.

The Madhya Pradesh Minister for Industries, Babulal Gaur, who visited the refinery site with senior State officials and a group of media persons on Thursday, said that a special tax incentive offered to the joint venture company by the State Government when he was the State Chief Minister had made the project economically viable.

He said the State Government had signed an MoU with BORL last year for deferment of local sales tax amounting to over Rs. 250 crore per year for a period of 15 years. The State, he added, would not lose revenue as the tax amount that would be deferred would come to the State as loan, which would be serviced by the company.

Mr. Gaur said a task force set up by the State Government for speeding up work on this refinery project met in the State capital on Wednesday and cleared all hurdles relating to water supply, electricity and roads.

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Work on Bina oil refinery in full swing

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