Bharat Petroleum Corporation Ltd (BPCL) plans to raise about 25% of the total fund requirement - Rs 1,000 crore, through an initial public offer (IPO) for its proposed Rs 9,100 crore refinery project in Bina in Madhya Pradesh, expected to come onstream by December 2009. 50% of the project would be funded through equity while the company may look for upstream partners, FIIs, private investors for the balance.
BPCL is also scouting for a "serious" petrochemical player to set up a complex near the refinery, which can be provided with feedstock from the refinery.
26-Sep-05 
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