Bharat Petroleum Corporation Limited (BPCL) has decided to set up a greenfield refinery with a petrochemical complex in the state at an investment of Rs 6,100 crore. BPCL confirmed that the board meeting held on Tuesday took this decision. The Corporation has also informed the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) through an official letter.
According to reports, the refinery is planned to be set up on the east coast of Andhra Pradesh. BPCL officials clarified that pre-project activities have already started. These include preliminary studies, land identification and acquisition, preparation of feasibility reports and environmental impact assessment. The Corporation emphasized that all aspects including the engineering package and design of the project are currently under review.