BPCL Announces ₹1 Trillion Investment in Andhra Pradesh

In a significant development for Andhra Pradesh's industrial landscape, Bharat Petroleum Corporation Ltd (BPCL) has announced plans for a massive investment in the state, potentially totaling Rs. 1 lakh crore. The proposal, discussed during a meeting between Andhra Pradesh Industries Minister TG Bharat and BPCL's Chairman G Krishna Kumar, focuses on establishing a new oil refinery. Initially, BPCL intends to invest between Rs. 50,000 crore and Rs. 75,000 crore, with three potential refinery locations under consideration.

Accompanied by a delegation from BPCL, Minister Bharat met Chief Minister N Chandrababu Naidu at Amaravati's Secretariat to discuss these plans. The Chief Minister expressed optimism about the potential economic impact of BPCL's investment, highlighting Andhra Pradesh's strategic east coast location and its significant petrochemical potential. Officials have been tasked with preparing a detailed feasibility report within the next 90 days.

In addition to BPCL's proposal, Minister Bharat also disclosed discussions with VinFast, a prominent Vietnamese electric vehicle manufacturer. VinFast has shown interest in investing Rs. 4,000 crore to establish EV and battery manufacturing plants in Orvakal or Krishnapatnam. CM Naidu welcomed this potential collaboration, directing state officials to facilitate site visits and support necessary for VinFast's operations.

These developments underscore Andhra Pradesh's growing appeal as an investment destination under CM Naidu's leadership, with the state government pledging full support to attract and accommodate major industrial projects. BPCL's potential investment in a new refinery and VinFast's interest in setting up manufacturing facilities signal a promising future for the state's industrial sector.

News by Rahul Yelligetti