BPCL's Mega Petrochemical Complex: A $1 Lakh Crore Investment Boost in Andhra Pradesh
Andhra Pradesh has allotted 6,000 acres near Ramayyapatnam Port to BPCL for a massive petrochemical complex, costing Rs 1 lakh crore. Offering financial incentives, the state aims for operations by 2029, generating significant employment. BPCL's phased investments total Rs 96,862 crore by 2030 in this ultra-mega project.
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In a major development for Andhra Pradesh, the state government has allocated 6,000 acres of land near Ramayyapatnam Port in Nellore District to Bharat Petroleum Corp Ltd (BPCL) for a Greenfield Refinery and Petrochemical Complex. The project's cost is estimated at Rs 1 lakh crore, positioning it as a mega-investment initiative.
The state has approved substantial financial incentives for BPCL, covering up to 75% of capital expenditure over 20 years. Investment phases will span from 2023 to 2030, totaling Rs 96,862 crore. The government order outlines capital subsidies, tax refunds, and other financial waivers to support the project's completion by January 2029.
Environmental and governmental clearances are proceeding, with the project expected to generate around 3,400 jobs during construction and 3,750 during operations. A High Level Committee will oversee progress to ensure timely completion, while a public consultation report is under preparation to address potential environmental concerns.
(With inputs from agencies.)
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