The newly formed TDP+ government has completed just over a month in the office and there are already some sizeable developments with regard to the investment plans for the state.
In an extremely encouraging development today, the senior management of BPCL, including CMD, G Krishnakumar met CM Chandrababu Naidu today. The discussion was with regard to the establishment of an oil refinery in Andhra Pradesh.
Reportedly, Chandrababu, who represents the AP government has made it clear to the senior management that the company would be provided with lands and certain incentives if they proceed with the investment plan.
Shortly after the meeting, Naidu tweeted “We explored the establishment of an oil refinery and petrochemical corridor in Andhra Pradesh with an investment of 60-70,000 Cr. I have sought a detailed plan and feasibility report in 90 days. About 5,000 acres of land will be required for this project, which the government looks forward to facilitating in a hassle-free manner.”
If the plan really does go through, then the refinery could be set up in Machilipatnam or Kakinada. It would directly and indirectly employ over 25,000 people.
It would be an extremely significant boost to the TDP+ portfolio in case they bring in an investment amounting to Rs 60,000 crore so very early in their tenure. Also, it would further instate Naidu’s existing image of being a pro-investment CM which is the exact opposite to the image of earlier CM Jagan Mohan Reddy.
This post was last modified on 10 July 2024 5:38 pm
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