Its refining capacity is six million metric ton per annum. The project has an investment of 12 thousand crore rupees and would make fuel available that conform to stringent Euro III and Euro IV norms.
Addressing the function, Dr. Singh said that the refinery was an example of cooperation between India and Oman in several areas. He expressed hope that the relations between the two countries would further strengthened in the near future.
Dr. Singh said, the Indian economy is growing at a rapid pace and India needs adequate energy at reasonable rates. “India needs energy at affordable prices. Hydro carbons would continue to be a vast source of fulfilling our energy requirements for a long time. So we need to develop adequate capacity for refining,” he said.
He said that India is self dependent in fulfilling its needs of refined energy and hydrocarbons found in different areas of the country would supply crude oil and gas to refineries.
The Prime minister said, that Bina refinery would benefit local people and provide job opportunities to them. Addressing the function Union minister for Petroleum and Natural Gas Jaipal Reddy said the refinery will become a mile stone in the development of Madhya Pradesh State Governor Rameshwar Thakur, Chief Minister Shivraj Singh Chouhan, Union minister for Petroleum and Natural Gas Jaipal Reddy and other dignitaries including the Ambassador of Oman in India Sheikh Humaid Bin Ali Sultan Al-mani were present on the occasion.