Amaravati: Efforts are underway to bring Bharat Petroleum Corporation Limited’s (BPCL) new refinery project to the state. With an investment of Rs. 50,000 crores, this project promises significant economic benefits and employment opportunities. The state government has prioritized the refinery project, emphasizing its potential to transform the local economy. Officials are actively engaging with BPCL management, offering two potential sites for the refinery.
Competition is fierce, with Uttar Pradesh and Gujarat also vying for the project. BPCL, which currently operates refineries in Mumbai, Kochi, and Madhya Pradesh, is evaluating the best location for its new facility. State officials have highlighted the advantages of the coastal area for the refinery, emphasizing the investment-friendly environment.
Incentives are a key factor in BPCL’s decision. The company has inquired about potential incentives, noting that Madhya Pradesh offered a Rs. 500 crore loan and a 15-year GST exemption for their refinery. BPCL is willing to invest if similar incentives are provided. Officials plan to present this proposal to Chief Minister Chandrababu Naidu for consideration. Ensuring the project does not move to neighboring states is a top priority.
