BPCL Set to Invest ₹1 Trillion in Andhra Pradesh, States Industries Minister Bharat.

Andhra Pradesh Industries Minister TG Bharat announced on Wednesday that Bharat Petroleum Corporation Ltd (BPCL) is prepared to invest Rs. 1 lakh crore in the state, potentially including the establishment of an oil refinery.

Accompanied by a delegation from BPCL led by Chairman and Managing Director G Krishna Kumar, Minister Bharat met Chief Minister N Chandrababu Naidu at the Secretariat in Amaravati. Discussions primarily centered around BPCL's proposal to make substantial investments in Andhra Pradesh, particularly focusing on the setup of an oil refinery.

"BPCL is ready to invest Rs 1 lakh crore in the state. Initially, they plan to invest between Rs. 50,000 crore and Rs 75,000 crore," Bharat stated in an official press release. He further noted that BPCL is evaluating three potential locations for the refinery and will finalize the site after further discussions with the Chief Minister within 90 days.

In addition to BPCL's proposal, Minister Bharat highlighted the interest expressed by VinFast, a prominent Vietnamese electric vehicle manufacturer, to establish operations in Andhra Pradesh. "VinFast discussed plans with CM Chandrababu to invest Rs 4,000 crore in the state, potentially setting up EV and battery manufacturing plants in Orvakal or Krishnapatnam," he added.

Bharat emphasized that the state government, under CM Naidu's leadership, is committed to providing full support by allocating land and necessary amenities to attract investments. He also noted a surge in industrial interest in Andhra Pradesh since Naidu assumed office.

Earlier, CM Naidu expressed optimism following his meeting with BPCL officials regarding the potential establishment of an oil refinery and petrochemical complex, which could attract investments totaling Rs 70,000 crore. Naidu instructed officials to prepare a detailed feasibility report within 90 days, leveraging the state's strategic location on the east coast and its significant petrochemical potential.

VinFast's CEO, Pham Sanh Chau, met with CM Naidu separately, discussing opportunities for collaboration in the electric vehicle and battery manufacturing sectors. Naidu directed the Industries department to facilitate VinFast's site visits and expressed hopes for a successful partnership with the Vietnamese conglomerate, which operates under Vingroup, with interests spanning technology, real estate, and more.

BPCL, a Maharatna public sector undertaking and Fortune 500 company, is renowned for its operations in oil refining and fuel retailing.

BS