The story
Bharat Oman Refineries Limited (BORL) was incorporated in 1994 as a public limited company with equal equity participation of Bharat Petroleum and Oman Oil Company Ltd (now OQ). Work on the refinery at Bina however began only in 2006. The project 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 for Local peoples of district who comes to its criteria after then state so that they boost tax revenues for the state government.
From Wikipedia’s article on Bharat Oman Refinery Limited, shared under CC BY-SA 4.0.3