Chandrababu Naidu, Lokesh invited Lakshmi Mittal to set up petrochemical hub in AP
Chief Minister N. Chandrababu Naidu, ministers Nara Lokesh and TG Bharath met steel tycoon Lakshmi Mittal, executive chairman of Arcelor Mittal at Davos.
Lokesh invited Mittal to set up Petrochemical Hub at Bhavanapadu, as it is a strategic place for finding petrochemicals. He also urged Mittal to consider a solar cell manufacturing plant in Andhra Pradesh.
He said that Bhavanapadu has a planned capacity of 83.3 MTPA, Vizag has Indian Institute of Petroleum and Energy, stable infrastructure and a strong support of the government. Together, they would provide a conducive atmosphere for investment into the petrochemical sector.
Lokesh also spoke in detail about the opportunities that can attract industries at Bhavanapadu. The Bhavanapadu-Mulapet area is suitable for manufacturing, R&D, and logistics and is apt for promotion of petrochemicals and green energy.
He urged the HPCL-Mittal partnership organization Green Energy Limited, which had planned to invest Rs 3,500 crore for a 2-GW solar cell manufacturing plant, to do it at the earliest possible. The Plant would provide employment to 2,000 people.
The government would provide all help and cooperation for setting up the plant, Lokesh said.
To this, Lakshmi Mittal reminded that Arcelor Mittal and Japan's Nippon Steel JV, in partnership, had already started works relating to a greenfield steel project with 17.8 million tonne capacity in the state. The steel project is coming up in Anakapalli in two phase at a cost of Rs 1.4 lakh crore.
