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Bharat Oman Refinery Limited
The Bharat Oman Refineries Limited (BORL) is a company that owns and operates Bina Refinery, located at Bina in the Sagar district of the state of Madhya Pradesh in India. Built as a joint venture between India's Bharat Petroleum Corporation (BPCL) and Oman's Oman Oil Company, the 6 MTPA refinery was commissioned in May 2011.
== History ==
Bharat Oman Refineries was first conceived in the early 1990s as the Central India refinery. Work on the refinery at Bina however began only in 2006. The project, initially conceived as an equal partnership between BPCL and the Oman Oil Company, however faced significant delays on account of environmental clearances and poor infrastructure and suffered from severe cost overruns that saw its cost of establishment increasing from a budgeted 6,300 crore to 91 billion. Following these delays and cost overruns, the Omani company initially dropped out of the project but subsequently decided to be a minority stake holder in the project holding 26% equity. The refinery which was to have been commissioned in 2009 was finally inaugurated in May 2011 by Prime Minister Manmohan Singh.〔 One percent of the plant's equity is held by the Government of Madhya Pradesh. The refinery is expected to create 5,000 jobs and boost tax revenues for the state government.
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