Outlines Rs. 75k crores investment, Naidu seeks feasibility study in 90 days

Oil marketing Major Bharat Petroleum Corporation Limited (BPCL) made a significant announcement for the state of Andhra Pradesh when its top bosses called on Andhra Pradesh’s Chief Minister Mr N Chandrababu Naidu in Amaravati.

A delegation led by Bharat Petroleum Corporation Limited (BPCL) Chairman and Managing Director Mr. Krishna Kumar recently called on Chief Minister and said that BPCL is ready to invest Rs. 75,000 crore initially to set up an oil refinery in the State.

Andhra Pradesh’s Industries Minister Mr TG Bharath who was also present in the meeting said that three areas will be examined for their investment.

It is stated that a land bank of 5000 acres shall be given for this project. It was further informed that after 90 days, the representatives of the company will have a meeting again with CM Mr Chandrababu and decide on the location of the refinery.