Andhra allots 6K acres land to BPCL for ₹1 lakh crore refinery

The state govt will give 75% of capex as financial incentives to BPCL over a period of 20 years

- OUR CORRESPONDENT

Andhra Pradesh Government has issued orders allotting 6,000 acres of land situated near Ramayyapatnam Port in Nellore District on a cost basis, to Bharat Petroleum Corporation Ltd (BPCL) for setting up 9 to 12 MMTPA Greenfield Refinery cum Petrochemical Complex, which envisages an investment of about Rs 1 lakh crore.

‘The state government order gave in-principle approval of total financial incentives to BPCL, 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 96,000 crore under tailor-made incentives provisions.