BPCL secures Rs 31,802 crore loan from SBI consortium for its petrochemical project at Bina

New Delhi: Bharat Petroleum Corporation Limited (BPCL) has signed a loan agreement worth Rs 31,802 crore with a consortium of banks led by the State Bank of India (SBI). The agreement, executed on January 16, 2025, aims to finance BPCL's ambitious petrochemical complex and refinery expansion project at its Bina Refinery, Madhya Pradesh.

The Maharatna Petroleum PSU has shared this information in a regulatory filing to the stock exchanges on Thursday.

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The loan, under a Project Finance Term Loan Facility, is part of BPCL's strategic push to strengthen its position in the petrochemical sector. The funding will support the development of a petrochemical complex producing downstream polymers and products such as Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), Polypropylene (PP), Benzene, Toluene, and Mixed Xylene. Additionally, it includes a brownfield expansion of BPCL's Bina refinery capacity from 7.8 million metric tonnes per annum (MMTPA) to 11 MMTPA.

The banking consortium includes Punjab National Bank, Union Bank of India, Canara Bank, Bank of India, and Export-Import Bank of India, with SBI serving as the lead banker.

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