Andhra Pradesh Chief Minister N Chandrababu Naidu has succeeded in convincing the union government to set up an oil refinery and petrochemical hub in the state with an investment of Rs 60,000 crore. Naidu met the top officials of Bharat Petroleum Corporation Limited (BPCL) on Wednesday to discuss the feasibility of the project. The announcement for the refinery is likely to be made in the union budget to be presented on 23 July.
During the meeting between Naidu and BPCL, three locations were considered for setting up the refinery. It included Srikakulam, Machilipatnam and Ramayapatnam. The feasibility of the mentioned locations will be assessed and then finalised. Even though the announcement for the refinery is expected to be made in the budget, the locations might not be announced until 23 July.
While the officials have decided to remain silent on the development, Naidu wrote on X (formerly Twitter), “Strategically placed on the eastern coast of the country, our state has a significant petrochemical potential. Today, I met with the representatives of the Bharat Petroleum Corporation led by chairman and managing director, Krishna Kumar. We explored the establishment of an oil refinery and petrochemical complex in Andhra Pradesh with an investment of Rs 60 to 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.”
This development is being seen as a big win for Naidu as he supported the Narendra Modi-led National Democratic Alliance (NDA) government with his 16 seats which helped the NDA to remain in power at the Centre for the third straight term.
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