Official Now, BPCL to invest Rs 95,000 cr in AP

Andhra Pradesh is witnessing development in the making. Another major investment of Rs 95,000 crore is in the pipeline. Refinery behemoth Bharat Petroleum Corporation has expressed consent to set up greenfield refinery and a petrochemical complex in the state with an investment of Rs 95,000 crore, in a phaseal manner.

The refinery to be set up in Ramayapatnam will produce gasoline. diesel, petrol, jet fuel and liquid petroleum gas (LPG)

The BPCL, which already has three refineries in Mumbai, Kochi and Bina in Madhya Pradesh has chosen Andhra Pradesh as its investment destination for its fourth venture.

The BPCL Governing Board gave consent for taking up the preliminary works with Rs 6,100 crore and the same was conveyed to the National Stock Exchange.

This investment can provide the impetus for employment generation

on a large-scale.

During the YCP’s rule, major investors like Lulu Group and other tech companies also withdrew their decisions to open shop in the state.

But, with the public giving a decisive mandate to the TDP coalition government, winds of change are sweeping the state and industry giants like Arcelor Steel, Nippon Steel, Reliance, Lulu Group, TCS and Tata had already expressed readiness to invest in various areas in Andhra Pradesh.