Union minister for chemicals and fertilisers Ananth Kumar has said that a new petrochemical complex has been proposed in Andhra Pradesh, with an investment of Rs 40,000-50,000 crore. The complex will be implemented by Hindustan Petroleum Corporation Ltd (HPCL) and Gas Authority of India Ltd (GAIL), he said.
The proposed project is in addition to the ongoing brownfield expansion of an HPCL refinery at Visakhapatnam and would be set up at a different location, he said during the valedictory session of the three-day CII Partnership Summit held at Visakhapatnam. An in-principle approval has already been given by the Centre, he said.
The three-day CII partnership summit came to an end with chief minister Chandrababu Naidu announcing 328 MoUs signed during the event with a projected investment of Rs 4,78,000 crore.
There is also a proposal for setting up a National Institute of Pharmaceutical Research (NIPER) in Visakhapatnam with an investment of Rs 600 crore and the state government has agreed to provide 600 acres towards the same. Besides these investments, a medical devices park, would also be set up in the state with an investment potential of Rs 20,000 crore.
Meanwhile, Subhash Chandra, chairman of Zee group and Essel group, said his group has signed two important MoUs with the AP government. He said his group has signed a MoU for manufacturing solar panels from silica at an investment of Rs 13,000 crore, giving employment to 15,000 persons, and the project would require 2,000 acres.
The second MoU was for setting up a smart industrial township in Andhra Pradesh, on 10,000 acres, housing 200 industries including some of the Essel group, and the investment potential would be Rs 73,000 crore.
Union civil aviation minister P Ashok Gajapathi Raju said that AP was focusing on development of airports and three new airport projects were coming up in the state — an international airport at Bhogapuram near Visakhapatnam, another at Nellore and the third at Kurnool. He said that the Centre has asked state governments to reduce the value-added tax on aviation turbine fuel (ATF) which accounts for a significant of an airline’s overall operating costs.