Andhra Govt Allots 6,000 acres to BPCL for Rs 1000bn Refinery

Andhra Pradesh Government has issued orders allotting 6,000 acres of land situated near Ramayyapatnam Port in Nellore District on a cost basis, to BPCL Ltd for setting up 9 to 12 MMTPA Greenfield Refinery cum Petrochemical Complex, which envisages an investment of about Rs 1000 billion.

The state government order gave in-principle approval of total financial incentives to Bharat Petroleum Corporation Limited, up to 75 per cent of the capital expenditure over a period of 20 years from the commencement of project activities, for the ultra-mega project of more than 960 billion under tailor-made incentives provisions.

The BPCL is expected to invest Rs 48.43 billion during the current financial year and Rs 96.86 billion next year. It will be investing Rs 145.29 billion in 2027-28, Rs 290.59 billion in 2028-29 and Rs 387.45 billion in FY30, totaling Rs 968.62 billion investment, according to the government order.