Bid & Tender
HPCL, GAIL Signs MoU with Govt of Andhra Pradesh

Date : Jan 31, 2017

State-owned oil and natural gas Company, Hindustan Petroleum Corporation Limited (HPCL) and GAIL India have inked a memorandum of understanding with the government of Andhra Pradesh to set up a Rs 40,000 crore petrochemical plant in the state.

 

Under the agreement, the companies, in a joint venture, will set up a 1.5 million tonne ethylene derivatives plant which will produce a wide range of petrochemical raw materials for the manufacture of detergents, cosmetics, paints and coatings, textiles and adhesives.

 

The plant will be developed at the Petroleum, Chemical and Petrochemicals Investment Region (PCPIR) sites identified by the government at Kakinada.