Cabinet infuses Rs 10000 Crores for startups engaged in deep-tech, innovative manufacturing (See 'Corp Brief') Minister proposes exploring solutions such as National Housing Exchange (See 'Corp Brief') In 2 yrs, India AI Mission has set up Foundation for Development of AI Ecosystem (See 'Corp Brief') Govt approves wheat exports and allows additional wheat and sugar exports (See 'Corp Brief') Centre for Trade organises International Moot Court under WTO Chairs Program (See 'Corp Brief') CCI okay acquistion of 6.63% equity of Valuedrive Technologies by Fidelity Funds (See 'Corp Brief') CCI allows Innomotics India to acquire low voltage motor business of Siemens (See 'Corp Brief') CCI approves combination involving Amundi Asset and ICG Plc (See 'Corp Brief') QA-industry conclave to discuss future of quality assurance in defence manufacturing (See 'Corp Brief') PDUNASS conducts Workshop on Corporate Insolvency Resolution Process (See 'Corp Brief') SECL's DigiCOAL showcased at Central Vigilance Commission's National Workshop (See 'Corp Brief') IPR - Presence of well-known House Mark serves as powerful distinguishing feature that negates any likelihood of confusion: HC (See 'Legal Desk') 2.14 lakh gram panchayats connected under BharatNet: Scindia (See 'Corp Brief') Union Education Minister launches Bodhan AI Centre of Excellence (See 'Corp Brief') SEBI - As SEBI registered intermediary, Noticees are under statutory obligation to comply with applicable circulars, rules and regulations: SEBI (See 'Legal Desk') BSNL deploys One Lakh Indigenous 4G Sites; Network 5G-Ready: Scindia (See 'Corp Brief') ECI organises EVM/VVPAT Awareness Campaign in Poll-bound States (See 'Corp Brief') Trade Marks - non-use of a mark filed on proposed-to-be-used basis is irrelevant for assessing registrability of the mark: HC (See 'Legal Desk') Medicinal Plants sector to drive Viksit Bharat 2047: MoS (See 'Corp Brief') IBC/RTI - appellant cannot seek disclosure of internal notings & replies under RTI Act when same issue has already been disposed of earlier: IBBI (See 'Legal Desk') India designated Country of the Year at BIOFACH 2026, Germany (See 'Corp Brief') Delhi-NCR to be strengthened with expansion of Continuous Ambient Air Quality Monitoring Stations (See 'Corp Brief') A&C - Applications for extending arbitral tribunal's mandate u/s 29A(4) must be filed exclusively before principal civil court of original jurisdiction: SC (See 'Legal Desk') RBI rolls out measures to strengthen Cooperative Banks' Financial Health (See 'Corp Brief') A&C - Arbitral proceedings are set to commence on date of receipt of notice invoking arbitration clause: SC (See 'Legal Desk') IWAI facilitates ODC Movement via Inland Waterways to Boost Assam's Semiconductor Ecosystem (See 'Corp Brief') A&C - Under pre-2015 amendment regime, once party consents to court order appointing arbitrator, they cannot subsequently challenge existence or validity of arbitration clause before arbitral tribunal: SC (See 'Legal Desk') Prasada inaugurates STQC Lab Automation Portal 'SATYA' (See 'Corp Brief') Indian Delegation visits Vietnam to Open New Opportunities in Silk, Sericulture & Handloom (See 'Corp Brief') Paswan releases Plastic Industry Status Report 2025 (See 'Corp Brief') Trade Mark - prior user rights override subsequent registration, particularly where adoption of deceptively similar subsequent trade mark, is not bona fide & is aimed at riding on existing goodwill of existing trade mark: HC (See 'Legal Desk') CCI registered 54 cases of anti-competitive practices in 2025 (See 'Corp Brief') National Institute of Ayurveda reaffirms role as global centre for education & patient care (See 'Corp Brief') Electronic Interlocking rolled out at 34 Railway Stations of N-E (See 'Corp Brief') PMLA - Objectives of enacting PMLA 2002, was attachment and confiscation of proceeds of crime which is quintessence so as to combat evil of money-laundering: SAFEMA (See 'Legal Desk') Khelo India Multipurpose Hall at SAI Sambhajinagar is addition to Olympic readiness: MoS (See 'Corp Brief') PM addresses community programme in Kuala Lumpur (See 'Corp Brief') A & C - mandate of arbitrators appointed unilaterally by one party, merits being terminated, where the other party explicitly refuses to waive applicability of Section 12(5) of the Act: HC (See 'Legal Desk') India-US Trade Agreement: Major boost for Textile Industry (See 'Corp Brief') IBC - In unavailability of adequate document/information and considering effect of limitation period, assigning of 'zero' value to trade receivables, without any due justification, is not appropriate: IBBI (See 'Legal Desk') India has signed MoUs with 23 countries for cooperation on Digital Public Infrastructure (See 'Corp Brief') A&C - Once arbitral tribunal has adopted plausible & reasonable interpretation of facts and contractual terms, courts cannot re-appreciate evidence or sit in appeal over award: SC (See 'Legal Desk') Railways inspects All Bridges Twice a Year (See 'Corp Brief') A&C - Permitting a civil suit to challenge an award confirmed by the Supreme Court would undermine the arbitral framework and public confidence in arbitration: HC (See 'Legal Desk') Over 1.25 lakh Livestock Farmers joined Virtual Awareness Program: MoS (See 'Corp Brief') A & C - Referral court not required to conduct detailed or contested inquiry & must limit itself to ascertaining whether underlying contract contains an arbitration clause covering disputes between the parties: HC (See 'Legal Desk') Pariksha Pe Charcha marks First-Ever multi-location nationwide engagement (See 'Corp Brief') SEBI - If Noticee violated regulation 23(1) and 23(4) of LODR Regulations as alleged in SCN, Noticee is liable for payment of monetary penalty in terms of section 15HB of SEBI Act: SEBI (See 'Legal Desk') TRAI issues Telecommunication Services Interconnection Regulations, 2026 (See 'Corp Brief') Trade Marks - Procedural defects & inadvertent errors which are curable should not be permitted to defeat substantive rights, unless shown to be deliberate, mala fide, or prejudicial to opposite party: HC (See 'Legal Desk') The Securities Markets Code, 2025: Strengthened Enforcement, Weakened Accountability? (See 'CORP EINSICHT')

Print

PM lays foundation stone of Petrochemical Complex at BPCL Bina Refinery in MP

Published: Sep 14, 2023

By TIOLCorplaws News Service

NEW DELHI, SEP 14, 2023: PRIME Minister, Narendra Modi, laid the foundation stone of Downstream Petrochemical Complex and Refinery Expansion Project, at BPCL's Bina Refinery in Bina, Madhya Pradesh here today. This state-of-the-art refinery, which will be developed at a cost of about Rs. 49,000 crore, and will produce about 1200 KTPA (Kilo-Tonnes Per Annum) of ethylene and propylene, which are a vital component for various sectors like textiles, packaging, pharma, among others. This will reduce the country's import dependence and will be a step towards fulfilling the Prime Minister's vision of 'Aatmanirbhar Bharat'. The mega project will also create employment opportunities and spur the development of downstream industries in the petroleum sector.

In his remarks at the event, Prime Minister Narendra Modi said, "It is our continuous effort that Madhya Pradesh reaches new heights of development, the life of every family in Madhya Pradesh becomes easy and every home brings prosperity. The track record of Modi's guarantee is in front of you". He informed about 40 lakh pucca houses in the state for the poor and fulfilling the guarantees for toilets, free medical treatment, bank accounts, and smokeless kitchens. He also mentioned the reduction of gas cylinder prices on the occasion of Raksha Bandhan. "Due to this, the beneficiary sisters of Ujjwala are now getting the cylinder at Rs 400 cheaper", he said. "Therefore, yesterday the Central Government took another big decision. Now 75 lakh more sisters in the country will be given free gas connections. Our aim is that no sister should be left out of gas connection", the Prime Minister added.

The Prime Minister underlined that the government is working with full sincerity to fulfill its every guarantee. He mentioned eliminating the middleman which ensured full benefits to every beneficiary and gave the example of PM Kisan Samman Nidhi where every farmer who is a beneficiary has received Rs 28,000 directly to his bank account. The Prime Minister informed that the government has spent more than Rs 2,60,000 crores on this scheme. In the last 9 years, the Prime Minister said that the Central Government has made efforts to reduce the cost of farmers and provide cheap fertilizers and informed about the expenditure of more than Rs 10 lakh crores in 9 years. He mentioned that a bag of urea which costs up to Rs 3000 for American farmers is made available to Indian farmers for less than Rs 300. He pointed out the urea scams of the past worth thousands of crores of rupees and interjected that the same urea is now easily available everywhere.

Governor of Madhya Pradesh Mangubhai Patel, Chief Minister of Madhya Pradesh, Shivraj Singh Chauhan, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri among others were present on the occasion.

Addressing the gathering, Hardeep Singh Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs stated that "this petrochemical plant is a gift from the Hon'ble Prime Minister not only to Bina but to the Bundelkhand and Madhya Pradesh".

Speaking on the occasion, the Minister of Petroleum & Natural Gas Puri observed that the new petrochemical complex in Bundelkhand region of Madhya Pradesh will promote various downstream units in the field of plastic, packaging material, plastic sheets and other items of domestic and industrial use. This will lay the foundation of Buland Bundelkhand, he added.

Recalling the example of OPAL plant which has contributed in development of Dahej region of Gujarat, the Union Minister further said that the successful execution of this project will revolutionize industrial development in Madhya Pradesh and the Bundelkhand region in particular and help attain the vision of Viksit Bharat.

Adding to it further, Hardeep Singh Puri said that this project will also reinforce India's commitment to self-reliance and sustainable industrial growth, positioning the nation as a global leader in the petrochemicals sector. Globally, India ranks 6th in the field of Petrochemical having market potential of approximately Rs.15.58 lakh crore which is likely to reach Rs.82 lakh crore by 2040.

Referring to the volatility in the global oil and gas industry in recent years, the Petroleum & Natural Gas Minister said that in the last two years, there has been a lot of volatility in the global oil and gas industry due to which not only our neighboring countries but also the developed countries faced energy shortage. On the other hand, due to the visionary and citizen centric policies of Prime Minister Narendra Modi, India is the only country where there was no shortage of oil and gas in the last 2 years and there was no increase in fuel prices. Indian citizens have been completely insulated from spike in global oil and gas prices, the Minister said.

In his remarks at the event, Hardeep Singh Puri also highlighted the progress since 2014 in the state of Madhya Pradesh on various parameters related to energy infrastructure. He emphasized that the number of of retail outlets/petrol pumps in the state have risen from 2,854 in 2014 to 5,938; and LPG distributorships have increased from 866 in 2014 to 1,551 now. The LPG penetration which was at 44% in 2014 has reached to 100%. The state has witnessed increase in PNG Connections from 2,783 in 2014 to 2,15,185 and increase in CNG stations from 15 in 2014 to 275 now. Natural Gas Pipeline has also seen a significant progress as the its length has increased from 802 km to 6,862 km now.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.