The Hindu Business Line : Madhya Pradesh signs MoU with Bharat Oman for Bina refinery

THE Madhya Pradesh Government today signed a memorandum of understanding (MoU) with Bharat Oman Refineries Ltd to set up a six-million-tonne per annum refinery at Bina, which has been in abeyance for 10 years now.

Bharat Oman Refineries is a joint venture between BPCL and Oman Oil Company Ltd.

Its expected investment in the project is Rs 7,500 crore.

The MoU was signed in Mumbai, and strategically scheduled to fit into a session on `Opportunities & Potential of Investing in Madhya Pradesh' co-hosted by FICCI, which was attended by the M.P. Chief Minister, Mr Babulal Gaur.

The session brought attention to the package of concessions awarded to the refinery project, including commercial tax deferment of Rs 250 crore per annum and CST exemption for its products, both for 15 years; stamp duty and registration concessions and the like.

A presentation made by officials of the State Government described the various advantages that the State would offer industrialists.

Among these are electricity at Rs 2 per unit at the Indore SEZ; reasonable real estate rates; a good road network; one-window environmental clearance and the like.

An optical fibre backbone of 20,000 km that has been set up "will make the IT champions of Mumbai sit up and take notice," said one of the officials.

Campus-type IT parks are also being set up in the State, he added.

Other projects under active consideration are the Khandwa power project (Rs 8,000 crore), an Essar coal power plant (Rs 7,500 crore), and a coal power project by Jai Prakash Associates of Rs 5,000 crore, said Mr Kailash Chawla, M.P. Minister for Industries.

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