BPCL to invest Rs 60,000 crore in Nellore for petrochemical complex setup

NELLORE : Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company, will soon invest ₹50,000 to ₹60,000 crore to set up an integrated refinery-cum-petrochemicals complex at Ramayapatnam Port in SPSR Nellore district, said Nellore MP Vemireddy Prabhakar Reddy.

Addressing the gathering at Swarnandhra 2047 Vision Action Plan workshop here on Thursday, he said, “A.P. Chief Minister Shri Nara Chandrababu Naidu has taken steps to prepare the State for development in all sectors in the next 25 years. Many industrialists are coming here to establish industries in the state with confidence in his leadership.”

“India’s State-owned oil refining company BPCL oil has come forward to set up an oil refinery complex at Ramayapatnam port with about ₹50,000 to ₹60,000 crore,” the MP said, suggesting the district administration officials to prepare 2047 Vision Action Plan in order to attract more industries to the district and provide maximum job opportunities to the unemployed youth.

Earlier, the State government had offered three sites to the Centre for allotting land to BPCL’s proposed oil refinery complex in green-field ports at Machilipatnam (Krishna district), Ramayapatnam (Nellore district) and Mulapeta (Srikakulam district) respectively. The company is likely to build a complex in 1,000-acre land with a capacity of 12 million tonnes per annum.