VIJAYAWADA: Chief Minister N. Chandrababu Naidu on Wednesday held a review of the financial condition of the state. He enquired about the state's debt scenario and asked finance department officials to provide details of the pending bills, department-wise.
The Chief Minister held discussions with representatives of BPCL and VinFast regarding their projects. During his recent visit to New Delhi, he held discussions with Central leaders on the investments by the BPCL in the state. Wednesday's meeting with the BPCL representatives was a continuation of this.
The company representatives brought to the notice of the Chief Minister that at least 4,000 to 5,000 acres of land is needed for setting up the petrochemical complex. Responding to this, Naidu told the industrialists that AP was the “best choice” for investments.
Representatives of the BPCL and the VinFast met the CM at the State Secretariat here and had a detailed discussion on the investments in the state. If the proposals materialise, the state will get Rs 60,000 crore in investments from the BPCL on an oil refinery and petrochemical complex.
Responding to the pleas from BPCL and VinFast representatives, Naidu said necessary land would be allotted to the company within 90 days. He asked the company representatives to come up with detailed and necessary proposals for establishing the project.
The company representatives informed the CM that they would be back latest by October with the feasibility report.
The CM also explained in detail to the CEO of VinFast, Pham Nhat Vuong, and other company representatives on the available resources in the state to launch electric vehicles. He proposed the Vietnam-based company representatives to set up their Electric Vehicle and battery manufacturing units in the state and said the government was ready to provide necessary land and basic facilities.
Earlier, the CM had lunch with the CEO and other representatives of VinFast along with the chairman and MD of BPCL, Krishna Kumar, and other representatives of the company.
