BPCL's Mega Investment: A Boost to Andhra Pradesh's Industrial Landscape
Andhra Pradesh Government has sanctioned land for BPCL to establish a Greenfield Refinery complex in Nellore, aiming to invest Rs 1 lakh crore. Financial incentives and a high-level monitoring committee will support the project, slated to generate significant employment and boost the local economy by 2029.
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The Andhra Pradesh Government has given the green light for Bharat Petroleum Corporation Ltd (BPCL) to establish a Greenfield Refinery and Petrochemical Complex in Nellore District. The project, close to Ramayyapatnam Port, spans 6,000 acres and requires an investment of approximately Rs 1 lakh crore.
The state has committed to supporting BPCL with substantial financial incentives, including up to 75% of capital expenditures over 20 years. Highlighting the project size, BPCL will invest in phases, with the company planning to inject Rs 4,843 crore this financial year and progressively up to Rs 38,745 crore by FY30.
The project aims for completion by January 2029, with potential employment for 3,400 workers during construction and 3,750 during operations. Additionally, BPCL is seeking environmental clearance, with a report submission required following a public hearing.
(With inputs from agencies.)
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