Prime Minister Laid the Foundation Stone of Projects worth Rs 51 thousand Crore in Bina

• 16 Sep 2023

Why In News?

• On September 14, 2023, Prime Minister Narendra Modi, in the presence of Madhya Pradesh Chief Minister Shivraj Singh Chouhan, laid the foundation stone of a petrochemical complex worth about Rs 51 thousand crore at the Bina Refinery complex of Bharat Petroleum Corporation Limited (BPCL) located in Sagar district and other new industrial plants. Laid the foundation stone of the projects.

Key Points:

• These include the Petro-Chemical Complex at Bina Refinery complex at a cost of Rs 49 thousand crore and 10 new industrial projects costing Rs 1800 crore at various places in the state.
• This state-of-the-art refinery, to be developed at a cost of about Rs 49,000 crore, will produce about 1200 KTPA (Kilo-Tonnes Per Annum) of ethylene and propylene, which are vital components for various sectors like textiles, packaging and pharma.
• This will reduce the country's import dependence and will be a step towards fulfilling the Prime Minister's vision of 'Self-reliant India'. This mega project will generate employment opportunities and will also promote the development of downstream industries in the petroleum sector.
• During the event, the Prime Minister also laid the foundation stone of ten projects, including 'Power and Renewable Energy Manufacturing Zone' in Narmada Puram district, two IT parks in Indore, a mega industrial park in Ratlam and six new industrial areas across Madhya Pradesh.
• ‘Power and Renewable Energy Manufacturing Zone, Narmada Puram’ will be developed at a cost of more than Rs 460 crore and will be a step towards economic development and employment generation in the region.
• 'IT Park 3 and 4' to be built in Indore at a cost of about Rs 550 crore will give a boost to the IT and ITES sector and will also create new employment opportunities for the youth.
• The Mega Industrial Park at Ratlam will be built at a cost of over Rs 460 crore and is envisaged to become a major hub for important sectors such as textiles, automobiles and pharmaceuticals. This park will be connected to the Delhi-Mumbai Expressway. This will greatly boost the economic development of the entire region, which will create direct and indirect employment opportunities for the youth.
• With a view to promote balanced regional development and equitable employment opportunities in the state, six new industrial areas will also be developed at Shajapur, Guna, Mauganj, Agar Malwa, Narmada Puram and Maksi at a cumulative cost of approximately Rs 310 crore.