Andhra Pradesh Explores Major Investments in Oil Refinery and EV Manufacturing

Andhra Pradesh Chief Minister N Chandrababu Naidu met with officials from Bharat Petroleum Corporation Ltd to discuss setting up an oil refinery and petrochemical complex with investments between Rs 60,000 to Rs 70,000 crore. Naidu also engaged with VinFast's CEO about establishing an EV and battery manufacturing plant in the state.

Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday met Bharat Petroleum Corporation Ltd officials here to explore the possibility of setting up an oil refinery and petrochemical complex, which could attract investments worth Rs 70,000 crore.

He met with BPCL Chairman and Managing Director G Krishna Kumar at the secretariat. Naidu posted on X about the exploration of establishing an oil refinery and petrochemical complex in Andhra Pradesh with an investment of Rs 60,000 to Rs 70,000 crore.

The Chief Minister directed officials to prepare a detailed feasibility report within 90 days. Naidu emphasized the strategic location of the state on the east coast with substantial petrochemical potential. The project requires up to 5,000 acres of land, and the state government aims to facilitate it smoothly.

Similarly, Naidu interacted with Pham Sanh Chau, CEO of VinFast, a Vietnamese automobile conglomerate. He invited them to set up their EV and battery manufacturing plant in Andhra Pradesh. Naidu directed the Industries department to show VinFast's team suitable land parcels for their project, promising a successful collaboration.

(With inputs from agencies.)