‘MP plans to make Bina a petrochemical hub’

Mumbai Madhya Pradesh Chief Minister Mohan Yadav on Thursday highlighted the expansion of India's chemical and petrochemical industry and outlined the state's industrial development plans while addressing the inaugural session of India Chem 2026 at the Bombay Exhibition Centre. Yadav said India's chemical, petroleum and petrochemical market had grown from $120 billion in 2014 to more than twice that value, reflecting the sector's expansion over the past decade. He also stated that the industry attracted foreign direct investment worth Rs 1 lakh crore between 2014 and 2026. Highlighting Madhya Pradesh's investment prospects, the chief minister said proposals worth approximately Rs 12 lakh crore received after the state's Global Investors Summit were now moving towards implementation. A key announcement was the development of Bina as a new petrochemical hub. Yadav said Prime Minister Narendra Modi had laid the foundation stone for a downstream petrochemical unit in Bina, involving an investment of several hundred crore rupees. The proposed facility is expected to produce more than 2.2 million tonnes of petrochemical products annually. These products will provide raw materials for industries such as plastics, packaging, pharmaceuticals, textiles and automobiles. The project is also expected to generate employment opportunities for young people in the state. Yadav said the chemical and petrochemical industry offered opportunities across agriculture, healthcare, energy and manufacturing. He also highlighted Madhya Pradesh's efforts to develop supporting industrial infrastructure, including modern plastic parks spanning 121 acres in Tamod, Raisen, and 93 acres in Bilowa, Gwalior. The chief minister praised Union Minister J.P. Nadda and FICCI for supporting India Chem 2026, describing the event as an important platform for international experts, industrialists and policymakers.