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

New Delhi: Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company, is set to invest Rs 50,000 to Rs 60,000 crore in establishing an integrated refinery-cum-petrochemicals complex at Ramayapatnam port in SPSR Nellore district, according to Nellore MP Vemireddy Prabhakar Reddy.

Addressing the gathering at the Swarnandhra 2047 Vision Action Plan workshop here on Thursday, he said, “A.P. Chief Minister 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 Rs 50,000 to Rs 60,000 crore,” the MP said, suggesting the district administration officials to prepare 2047 Vision Action Plan 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 on 1,000-acre land with a capacity of 12 million tonnes per annum.