320-x-100_uti_gold.jpg" alt="Advertisement">
Chandrababu Naidu, BPCL CMD discuss oil refinery, petrochemical complex in Andhra
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Andhra Pradesh Chief Minister N. Chandrababu Naidu and Bharat Petroleum Corporation Ltd (BPCL) officials on Wednesday discussed the proposed establishment of an oil refinery and petrochemical complex with an investment of Rs 60,000 to Rs 70,000 crore.
BPCL officials, led by Chairman and Managing Director Krishna Kumar, called on the Chief Minister.
"We explored the establishment of an oil refinery and petrochemical complex in Andhra Pradesh with an investment of (Rs) 60-70,000 crore. I have sought a detailed plan and feasibility report in 90 days. About 5,000 acres of land will be required for this project, which the government looks forward to facilitating in a hassle-free manner," Naidu posted on X.
The Chief Minister stated that strategically placed on the eastern coast of the country, Andhra Pradesh has a significant petrochemical potential.
According to the Chief Minister’s Office, Naidu, during his recent visit to New Delhi, had a discussion with the Central leaders on the investments by the BPCL in the state, and Wednesday's meeting with the BPCL representatives was in continuation of this.
The company representatives brought to the notice of the Chief Minister that at least 4,000 to 5,000 acres of land are needed for setting up the petrochemical complex.
Responding to this immediately, Naidu said that the necessary land would be allotted to the company within 90 days and asked the company representatives to come up with the detailed and necessary proposals for establishing the project. The BPCL officials informed the Chief Minister that they would be back, latest by October, with the feasibility report.
Meanwhile, Vietnamese leading automobile conglomerate VinFast's CEO, Pham Sanh Chau also called on the Chief Minister.
Naidu invited them to set up their EV and battery manufacturing plant in Andhra Pradesh. He asked the Industries Department to facilitate their visit to suitable land parcels.
The Chief Minister said he was looking for a successful collaboration with VinFast, and apprised the company representatives of the available resources in the state to launch the electric vehicles. He told them that the state government was ready to provide the necessary land and other basic facilities for them.
