9FEBRUARY 2026BPCL PETROCHEMICAL PARK PLANNED NEAR BINA REFINERYLINDE INDIA PLANS EGM AMID SEBI RPT COMPLIANCE PUSHState-run Bharat Petroleum Corporation Ltd has unveiled plans for a major BPCL petrochemical park near its Bina refinery expansion site in central India, marking a big step in its shift toward high-value chemicals.The project will be adjacent to the currently operated Bina Refinery of the Company and is being designed in Linde India EGM is set for March 5 as the company seeks shareholder approval for material related-party transactions (RPTs) with Praxair India for FY2025-26. The relocation follows one of the most important regulatory changes and is a sign that the company is sincere with market regulations.The exceptional general meeting comes after a decision by the Securities Appellate Tribunal (SAT), in December collaboration with Madhya Pradesh Industrial Development Corporation.The integrated development is one of a greater 49, 000 crore investment which will increase the capacity of the refinery to 11 million tonnes per year, compared to 7.8 million tonnes. The expansion will focus on a giant ethylene cracker project that will manufacture some of the building blocks to be used in plastics and other industrial products.The plan will require the supply of ethylene and feedstock associated with the pipeline that is going to be used by BPCL to the units situated in the future petrochemical park in Madhya Pradesh, enabling the manufacturers to work in the vicinity of the source. This arrangement eliminates transportation issues and enhances supply network.The BPCL petrochemical park is to be commissioned in May 2028. The shift is part of the overall BPCL strategy of enhancing margins by expanding operations in petrochemicals which are still in demand in packaging, automotive and consumer goods markets.Through this growth in Madhya Pradesh, BPCL strives to establish an integrated refining and petrochemical center that will be able to compete with international players as well as promote the growth of local manufacturing. 2025, to allow the interpretation of the materiality level of RPTs by the Securities and Exchange Board of India. The case focused on Linde India and joint venture business with Praxair India.Linde India had already appealed against the findings of Sebi claiming that the regulator had wrongly employed the concept of related-party transactions. Nevertheless, the tribunal did not accept the claims of the company and said that the materiality limits are well stipulated in the current regulations.According to the Sebi standards, any transaction that is above 1,000 crore or 10 percent of annual consolidated turnover of any entity whichever is lesser must be approved by all the shareholders beforehand. The company will request RPTs of 417.7 crore with Praxair India at the upcoming Linde India EGM to run to FY2025-26."This shows that the company has accepted the market regulator's interpretation of RPTs under the Listing Obligations and Disclosure Requirements (LODR), which is positive from a corporate governance standpoint," said a regulatory expert.Corporate governance experts consider the development to be an obvious step towards compliance and higher levels of transparency.
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