Rs.1 lakh cr investment in oil, gas projects under process in AP

By Nehru.T Feb. 13, 2020, 01:47 pm IST
Rs.1 lakh cr investment in oil, gas projects under process in AP

Union minister Dharmendra pradhan explained the Vice president

Dharmendra Pradhan stated that the projects under his department worth around Rs.1 Lakh crores are under progress in the state of Andhra Pradesh. Pradhan has replied to Vice president of India M.Venkaiah Naidu when he asked for the progress and status of various projects. Dharmendra Pradhan apprised Vice President M Venkaiah Naidu recently.

The projects include Rs 26,264 crore modernization of Visakhapatnam refinery by the second quarter of 2022-23, and Rs 68,000 crore in the development of offshore oil and gas fields, Pradhan said in tweets after the meeting. Another Rs 10,000 crore is being invested in on-land fields in KG Basin.

"These oil and gas projects under different stages of implementation will usher new dawn of socio-economic prosperity for the people of Andhra Pradesh and further facilitate ease-of-living for citizens in the state," he explained. "An estimated investment of Rs 68,000 crore in offshore projects and Rs 10,000 crores in Onshore projects have been lined up by the ONGC in Andhra Pradesh," it said. At the meeting, Naidu sought the status of setting up of a greenfield petrochemical complex at Kakinada, with an investment of around Rs 32,000 crore for producing 1.7 million tonnes a year of chemicals. The project is being undertaken by Hindustan Petroleum Corporation Limited (HPCL) and GAIL India Ltd, with the support of the Andhra Pradesh government.

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