Amaravati: In a bid to secure a massive investment, Andhra Pradesh government officials are intensifying efforts to attract Bharat Petroleum Corporation Limited (BPCL) to establish its new refinery in the state. With a projected investment of Rs. 50,000 crores, the refinery promises to create thousands of jobs, making it a top priority for the state government.
Officials are in direct talks with BPCL’s management, offering two potential sites for the refinery. The company, which already operates refineries in Mumbai, Kochi, and Madhya Pradesh, is evaluating locations in Andhra Pradesh, with Uttar Pradesh and Gujarat also vying for the project. Highlighting the advantages, high-ranking officials have emphasized the strategic benefits of Andhra Pradesh’s coastal areas, showcasing the state’s investment opportunities.
Incentives and Support
BPCL management has shown keen interest in the incentives offered by the state government. Reports indicate that BPCL officials have noted Madhya Pradesh’s attractive offer of a Rs. 500 crore loan and a 15-year GST exemption for refinery projects. The company has expressed its willingness to invest in Andhra Pradesh, provided similar incentives are extended. Officials are set to present this proposal to Chief Minister Chandrababu Naidu for a final decision, ensuring the project remains in Andhra Pradesh rather than being diverted to neighboring states.
Official Appeal to the Centre
Revisiting historical commitments, officials are planning to write to the Central Government, referencing the Partition Act, which stipulated the allocation of the petrochemical complex and refinery to Andhra Pradesh. The state government will urge the Centre to facilitate BPCL’s project allocation, potentially unlocking significant investments for the state. If the Centre responds positively, Andhra Pradesh stands to gain a substantial economic boost, reinforcing its position as a key investment destination.
