Visakhapatnam: Union minister for Petroleum and Natural Gas (independent charge) Dharmendra Pradhan on Thursday said a petrochemical complex will be set up in Andhra Pradesh in the current (2016-17) fiscal year at a cost of Rs 35,000 crore.
Speaking at a public meeting at the Vangali area under Sabbavarm mandal in Vizag district after Chief Minister N. Chandrababu Naidu laid the foundation stone for Indian Institute of Petroleum and Energy (IIPE) in the presence of Union ministers M. Venkaiah Naidu, Y. Sujana Choudhary and P. Ashok Gajapathi Raju, Mr Pradhan said the foundation stone for petrochemical complex would be laid in this year.
“Though the UPA government had included the proposed petro-chemical complex in the AP Reorganisation Act-2014, it mentioned that it was subject to feasibility. But, we have taken a decision to set up the petrochemical complex in AP in be-tween Vizag and Kakinada region,” he added.
Saying that his ministry has planned to invest crores of rupees to make AP a petro-chemical and gas hub, Mr Pradhan said the capacity of HPCL-VR refinery in Vizag would be enhanced from 8.5 million tonnes to 15 million tonnes by December 2016 at an investment of Rs 21,000 crore, and there were plans for LPG pipeline supply in the state at a cost of about Rs 62,000 crore.
Keeping in view the huge gas resources in Krishna Godavari basin, over Rs 60,000 crore would be invested under Public Private Partnership (PPP) mode in the K-G basin for exploration and exploitation of oil and gas.
“The IIPE will produce top experts within four years in petroleum, oil and gas sector and the campus will be ready in three to four years at the Vangali area in around 200 acres,” Mr Pradhan added.
The CM also dedicated the Skill Development Institute and launched Prime Minister Ujwala Scheme in the presence of Union ministers. He said: “Sabbavarm will turn into an educational hub with three universities DSNLU, IMU and IIPE, and more land would be acquired, if necessary, to set up more institutes in the coming years.”