Chandrababu Naidu eyes oil refinery, petrochem complex in Andhra with Rs 60,000 cr investment; meets BPCL officials

Andhra Pradesh Chief Minister N Chandrababu Naidu, a key ally of the National Democratic Alliance (NDA), that formed the government at the Centre, took to social media to announce that they are exploring the setting up of an oil refinery and petrochemical complex in the state. 

“Strategically placed on the eastern coast of the country, our state has a significant petrochemical potential. Today, I met with the representatives of the Bharat Petroleum Corporation Limited led by Chairman and Managing Director, Mr Krishna Kumar. We explored the establishment of an oil refinery and petrochemical complex in Andhra Pradesh with an investment of 60-70,000 Cr. I have sought a detailed plan and feasibility report in 90 days. About 5,000 acres of land will be required for this project, which the government looks forward to facilitating in a hassle-free manner,” said Naidu on social media. 

This comes after Naidu met Union Finance Minister Nirmala Sitharaman to press for enhanced financial support to the debt-burdened state.

According to news agencies, the Andhra Pradesh CM presented a detailed memorandum to FM Sitharaman outlining the state's financial requirements and the rationale behind the demand for increased allocation. Naidu also met Defence Minister Rajnath Singh and Health Minister J P Nadda. 

Naidu had reportedly asked for funds for the Polavaram irrigation project, special assistance for backward regions, and support for the development of the new capital, Amaravati. He had also sought resolution of the pending issues that stemmed from the bifurcation of Andhra Pradesh. 

This comes as the public debt of Andhra Pradesh increased from 31.02 per cent of the Gross State Domestic Product (GSDP) in 2019-20 to 33.32 per cent in 2023-24 fiscal.

Chandrababu Naidu also met Prime Minister Narendra Modi last week. The Naidu-led Telugu Desam Party is a crucial partner of BJP within the NDA with 16 Lok Sabha MPs supporting the Modi government.