Andhra: Chandrababu meets BPCL, VinFast honchos; eyes Rs 60,000 Cr investment in petrochemical complex
The necessary land would be allotted to the company within 90 days.
By Newsmeter Network Published on 11 July 2024 2:06 AM GMT
Amaravati: Chief Minister Chandrababu Naidu is hard selling Andhra Pradesh as an ideal state for investments and diversifying business.
Chief Minister met representatives of the BPCL and the VinFast and held a detailed discussion on the investments in the state.
In case the proposals discussed at the meeting materialize, the state will get Rs 60,000 core in investments from the BPCL for the oil refinery and petrochemical complex.
During his recent visit to New Delhi, Chandrababu Naidu discussed with the Central leaders the investments by the BPCL in the state. Wednesday's meeting with the BPCL representatives was in continuation of this.
The company representatives brought to the notice of the Chief Minister that at least 4,000 to 5,000 acres of land are needed for setting up the petrochemical complex.
Chandrababu said that the necessary land would be allotted to the company within 90 days and asked the representatives to come up with detailed and necessary proposals for establishing the project. The company representatives informed Chandrababu that they would be back by October with the feasibility report.
The Chief Minister also explained in detail to the Chief Executive Officer (CEO) of VinFast Pham Nhat Vuong and other company representatives about the available resources in the state to launch the electric vehicles.
Chandrababu asked the Vietnam-based company representatives to set up their Electric Vehicle and battery manufacturing units in the state and that the State Government is ready to provide the necessary land and other basic facilities for them.
