Andhra Pradesh is all set to get a petrochemical complex this fiscal. The new complex will be up at a cost of Rs 35,000 crore.
Asserting the same, Union minister for Petroleum and Natural Gas (independent charge) Dharmendra Pradhan said that the Indian Institute of Petroleum and Energy (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.
Speaking at a public meeting at the Vangali area under Sabbavarm mandal in Vizag district after Chief Minister N. Chandrababu Naidu who 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.
It must be noted that the ministry has planned to invest crores of rupees to make AP a petro-chemical and gas hub. He 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.