New Delhi: Bharat Petroleum Corp Ltd plans to expand its Bina oil refinery in Madhya Pradesh by 30 per cent to 156,000 barrels per day at a cost of about $472 million, its chairman S Varadarajan told Reuters on Monday.
The expansion of the refinery, operated by a joint venture of BPCL and state-owned Oman Oil Co in Madhya Pradesh, will be completed by 2018, he said.
Oman Oil, which has a minority stake in the venture, is not participating in the 30 billion rupees expansion as of now, Mr Varadarajan said.
As of 10:04 a.m., shares in BPCL were trading over 1 per cent higher at Rs 892.60 apiece on the BSE.
($1 = 63.4800 rupees)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
