India's Bharat Petroleum Corp. discusses $3.8B loan with local banks for Bina refinery expansion in Madhya Pradesh.

India's Bharat Petroleum Corp. (BPCL) is discussing a $3.8 billion loan with local banks to expand its Bina refinery in Madhya Pradesh, aiming to increase its refining capacity and petrochemical projects. The State Bank of India is expected to lead the transaction, with other lenders such as Punjab National Bank, Bank of Baroda, and Bank of India also participating. The loan, if secured, would be the largest local-currency loan in India this year, and the refinery expansion would support India's growing demand for plastics and petrochemicals.

August 30, 2024
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