HPCL-Gail to set up a petrochemical complex in AP

A greenfield petrochemical complex will be set up jointly by HPCL & Gail in Andhra Pradesh, giving a fillip to the plastic processing industry in the state, according Ananth Kumar, Minister for Chemicals and Fertilisers. “On behalf of the centre, I am making in-principle announcement that HPCL and Gail together would establish a greenfield petrochemical complex in Andhra Pradesh. This will also bring huge downstream investment opportunities to the state apart from refinery and cracker units,” said Ananth Kumar during the closing ceremony of the three-day CII Partnership Summit in Visakhapatnam on January 12, 2016.
 
The project is in addition to the ongoing brownfield expansion of HPCL refinery at Visakhapatnam, and would be set up at a different location in the state, the minister said. Establishment of a new petrochemical complex is estimated to require additional investment of more than Rs 25,000 crore. Last year, the AP government had requested the Centre to establish a greenfield petrochemical complex near Machilipatnam in Krishna district.