Bharat Petroleum Corp Ltd plans to expand its Bina oil refinery in the central part of the country by 30 percent to 156,000 barrels per day at a cost of about $472 million, its chairman S. Varadarajan told Reuters on Monday.

The expansion of the refinery, operated by a joint venture of BPCL and state-owned Oman Oil Co in Madhya Pradesh, will be completed by 2018, he said.

Oman Oil, which has a minority stake in the venture, is not participating in the 30 billion rupees expansion as of now, Varadarajan said.