BPCL to invest ₹50,000-₹60,000 crore in integrated refinery-cum-petrochemicals complex in Nellore district
- In Reports
- 09:43 PM, Oct 05, 2024
- Myind Staff
Bharat Petroleum Corporation Limited (BPCL), a prominent player on the Fortune Global 500 list is poised to make a significant investment of ₹50,000 to ₹60,000 crore. This investment will be directed towards establishing an integrated refinery-cum-petrochemicals complex at Ramayapatnam port in the SPSR Nellore district, as announced by Nellore MP Vemireddy Prabhakar Reddy.
During a workshop for the Swarnandhra 2047 Vision Action Plan held on Thursday, Nellore MP Vemireddy Prabhakar Reddy said, “A.P. Chief Minister Nara Chandrababu Naidu has taken steps to prepare the State for development in all sectors in the next 25 years. Many industrialists are coming here to establish industries in the state with confidence in his leadership.
“India’s state-owned oil refining company BPCL oil has come forward to set up an oil refinery complex at Ramayapatnam port with about ₹50,000 to ₹60,000 crore,” the MP said, suggesting the district administration officials to prepare 2047 Vision Action Plan in order to attract more industries to the district and provide maximum job opportunities to the unemployed youth.
Previously, the State government proposed three potential sites to the centre for the allocation of land for BPCL’s planned oil refinery complex at greenfield ports. These sites include Machilipatnam in Krishna district, Ramayapatnam in Nellore district, and Mulapeta in Srikakulam district. BPCL is expected to develop the complex on a 1,000-acre plot, with an anticipated capacity of 12 million tonnes per annum.
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